I know that these updates are starting to get boring. “Now is an unbelievable time to buy a home.” YAWN! “Rates continue to stay at 5% or lower.” YAWN AGAIN!
Well, at this point, boring is good. Nothing has been able to move mortgage backed securities higher lately. The stock market had a very strong day yesterday. Consumer confidence was higher than expected this morning. The federal government is borrowing money at an unprecedented pace. All of these factors often cause higher mortgage interest rates but have had no affect lately. How long will this continue? If I was in the market for a new house or was looking to refinance, I would not count on it continuing for much longer.
No comments:
Post a Comment