Hello everyone!
The interest rate comment this week is a little late because I was out of town for a few days. I took a trip up to NC....I used to live there, and it was strange being back in cold weather! Of course, when I got back here, it was chilly as well.....
Here is the comment from Mickey, mortgage broker extraordinaire:
Mortgage interest rates continue to climb this week as long-term lenders fret over the threat of inflation. Inflation robs returns so lenders demand higher yields. Buyer/borrowers seeking 30 year fixed rate mortgages can expect rates in a range from 6.375% to 6.875% without paying discount points. Actual rate depends upon loan size and the borrower's creditworthiness. As you can see, the low rates of six weeks ago are a fleeting memory.
This quote was surprising to me, given what we have been hearing in the press, but it is best to stay informed!
