Friday, July 22, 2011

Here we are and where are we going?

The Mortgage markets normally go the opposite direction than the stock market; rates go up money pulled from the safe haven mortgage backed securities or in this case the 10 yr T-note into the stock market.
Well not this week. The Stock market jumped again 200 points and interest rates fell with the 10yr Treasuries breaking the resistance and dropping to 2.88%. Normally you see the mortgage interest rates rising, not!!

Go figure as some 20 or 30 something’s would say, and I to would agree because we pal around with a lot of them. Whatever.

With rates at all time lows this is a good time to think of getting off the Rent VS buy band wagon and if you have a good job and feel like you want to put down some roots take a look out there are a lot of homes to look at.

Call me or visit us on Face Book Will Rudloff Mortgage Team as times are a changing, however keep in mind rates may drop, but they also go up a whole lot faster. The cost off waiting can be a costly mistake.
Well from Mr. Will from Jacksonville just a thought......


Post a Comment