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Mortgage Trends
Mortgage Outlook and News
Interest rates are at a 36 year low! For an inkling of what's next we surveyed a group of mortgage experts for their opinion.
More that half the experts believe interest rates will remain about the same to slightly higher over the next 6 months.
One thing is certain, with interest rates at historic lows, nobody should be gambling by floating their interest rate during the time of loan processing, whether purchasing or refinancing. There is far greater danger of loss if rates spike higher than there is of any gain if rates drift a little lower.
All it would take is for the stock market to show a week more of sustained upward momentum or the economy to pick up enough to improve the unemployment rate and mortgage rates could jump ¼% to ½% almost overnight. That's how every other period of low interest rates has ended - no warning, just a quick, unannounced jump higher. Locking at time of application is always a good idea.
The Cherry Creek Pathway to Homeownership
Link to Historic Charting of Interest Rates
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Cherry Creek Mortgage
4301 Hacienda Dr. Ste. 120
Pleasanton, CA.94588
Phone 510-886-5492
Fax 510-886-8392
