Thursday, October 29, 2015

Rate Lock recommendation continues after Fed announcement


Rates moved up quickly today causing lenders to increase rates by .125%-.25% (FHA and Conventional loans respectively).  Much of the Freddie Mac information released today was misleading because what happens on Thursday and Friday isn't reflected in their reports.

Mortgages with Marty Qualls in Utah!
For options and rates call me.  The move up could be something temporary and as the markets settle, December's most likely target identified by the Fed yesterday could be the new line in the sand and best rates in 28 weeks could still be available for awhile longer.  :)

Here's the link to the excellent article to explain more about why it's important to have a close relationship with your loan originator who can call you BEFORE rates go up and you can lock your rate BEFORE the markets change: Freddie Mac's reports are too slow, too late

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