California Home Loan Purchase & Refinance Low Mortgage Rates.
Get Qualified For A Home Loan Directly!
Home FREE RATE QUOTE APPLY HERE Rent vs Buy Calc Borrower Login Mortgage Blog

Kemmer's call

Mortgage Rates hit 4 year high
April 24th, 2018 8:52 AM

Long-term U.S... government bond yields topped 3% for the first time in more than four years The 10-year yield is a barometer that influences borrowing costs for consumers, corporations and state and local governments. Mortgage rates are tied to this and have reached almost 4.5%  see this  article from Government backed funding source. http://www.freddiemac.com/pmms/ great graphs.

My concern is that the Home affordability index will lesson with higher rates = higher payments and the housing values will slow if not even drop in value. This could trigger another financial situation as so much of the economy is tied to housing.

Many people are refinancing to get cash out for improvements to there existing homes rather than buying new ones or paying off debt to free up cash flow for other investments or simply converting there adjustable rate mortgage to a fixed wile rates are still low.

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 April 24th, 2018 8:52 AMPost a Comment