I’m getting differing views on where mortages will be over the new few months.
The Fed laid out that the rates they determine
will not change until 2014.
But mortgage brokers are telling me that they expect a spike in rates from historic lows.
What will it be?
C-SPAN, the most boring channel on the dial- or the CW (formerly the WB)- the most drama-filled?
- Snoozer or Snooki? Drama or Boredom?
Rates have, actually, ticked up in the last two weeks.
They are averaging 4.15% for a 30-yr fixed loan.
Which is up about 1/8 of a point.
I doubt it, but that could be driving buyer traffic.
Not such a bad tradeoff.
Acccording to the Wall Street Journal, “The yield dropped from a session peak of 2.348% which was the highest since late October. Bond prices move inversely to their yields.”
New York State foreclosure rates are going down (h/t Frank Cronin, HSBC).
This will help provide confidence to lenders considering New York City buyers.
This is not the case in other states (like California).
That is all, folks.