Bonds trade in the green today giving us some relief to the 11 days of downward trend. Remember bonds down = rates up. I have mentioned several times in the past the risk of rates increasing and that risk is no longer a risk but a reality. Rates have increased an estimated .25% in these 11 trading days. Sometimes he greatest risk is the risk of the unknown. Where will rates end up this year? Finding a new home and locking in a known rate prevents this unknown risk. The Fed minutes were released today, the economy shows improvement, employment reports are beating expectations and the stock market is setting new records. Is this a sign of things to come? A recovering economy pulls rates up with it! Beat the unknown!
Have a great freezerama day!
For more information contact Nick Russo at Towne Mortgage - Your Hometown Mortgage Lender!