April 6, 2020
What's up with interest rates?
If you missed the “window” on last month’s historically low interest rates… read on.
Mortgage back securities tumbled and subsequently mortgage interest rates have spiked over the past weeks. The market volatility is high and we see swift movements in both directions. One day is positive and the next negative. What’s going on?
Recently, the FEDs bought hundreds of billions in the mortgage bond market to offset 5 of the worst days this market and the stock market have seen. Yes, that is a big deal! (when the mortgage bond market is up, interest rates are down). Although the market will remain volatile for the fluid COVID-19 future, the general sentiment is that we will continue our positive trajectory as is evident by today's lower rates. There are a ton of variables yet to playout but rest assured, there are skilled advisors available to assist with your interest rate reduction goals. The key is to be in queue with a solid lender and ready to lock your rate when opportunity knocks.
If you would like to explore the opportunity to secure a lower interest rate, reach out.