Some expect fixed mortgage rates to rise this year as the Federal Government tries to keep a lid
on the housing market. The problem with this belief is the Federal Government does not control the bond market or bank treasury departments. That's where the money comes from.
I think we are going to see a fairly flat year in fixed pricing. Fixed Rates likely won't go down below the record low rates (2.99% for 5 years)we are currently enjoying but an increase of .50% would not be devastating.
Greed amongst the lenders for market share and a large piece of the smaller pie will keep rates priced sharply and competitive in 2013.
Tip of the day. Get a Mortgage Broker to shop the Market for you and get Pre approved for a purchase or refinance well in advance to lock these great rates down.
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