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Kemmer's call

May 23rd, 2018 11:44 AM

After leveling off recent weeks, mortgage rates move up to reach a new high last seen seven years ago.

The 30-year fixed mortgage rate edged up to 4.61 percent, which matches the highest level since May 19, 2011.

Consumer spending and higher commodity prices caused bond markets to increase and led to higher mortgage rates over the past week.

While this year’s higher mortgage rates have not caused much of an effect in the strong demand for buying a home seen in most markets, inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the valuation of home prices.

Many people are refinancing to convert their adjustable rate mortgage to a fixed wile rates are still low, get cash out for hone improvements to there existing homes or paying off debt to free up cash flow for other investments

I would be happy to discuss any and all options or concerns  you may have.

OR Price your own loan   http://www.firstcaliforniafinancial.com/CaliforniaMortgageRateSheet  and give me a call for a custom quote..


Posted by Kemmer Daniel Matteson on May 23rd, 2018 11:44 AMLeave a Comment