“While plenty of drivers affect the housing market, there may be none more important than how the Federal Reserve handles interest rates. All things being equal, the lower the interest rates charged by the Federal Reserve, the lower the mortgage rate you will be able to get when it comes time to buy (or refinance) your home.

Before we talk about what the Fed will do next, let’s step back to put everything in perspective…”  To read more of this insightful article from Business Week click here.

There is little doubt that rates are on their way up.  Remember, when rates start to climb all of the people that were watching the rates will try to get the process started at once.  When this happens, you can bet that we will see the banks raise the rates even more quickly to control the flow of new business.  We’ve seen this happen before.  Now may be the best time to get your application started so that you can be in front of the line when rates start to climb.  Please contact us at 866-676-3349 to discuss the next steps or complete our online mortgage application.

This entry was posted on Wednesday, October 28th, 2009 at 7:56 pm and is filed under Consumer Information, Market Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.