What’s UP with Mortgage Rates?

People ask me about mortgage rates when they find out I’m a real estate broker. I know more about popular neighborhoods in Raleigh and marketing homes than I do about mortgage rates, but today I’ll share a bit about what I do know: The phone numbers of a couple of great mortgage lenders in Raleigh.

Mortgage rates have been volatile over the past 5 years or so as residential real estate sales plummeted and stabilized. The lenders I work with update me regularly so I’ll have an idea of what they are telling my home buying clients. I received an update this morning and here’s what Pat Wynn Shared:

Below is a graph for the movement of mortgage bonds last week and this morning. Up is good.  That means the bonds sell at a higher price which lowers the yields and results in lower interest rates.   Knowing this information is key in deciding when is the best time to lock a rate.  Not knowing is like trying to find good sweet tea in Wisconsin.  Armed with the proper information you too can make great decisions.

FNMA Mortgage Bond Sales

Upward movement is good for rates

Consumers in the US are a driving economic force. Economic analysts try and predict future spending patterns of consumers to gauge economic activity. Here is a chart showing a number of reports analysts use and what my mortgage partners pay close attention to when advising their clients:

Mortgage Rates

Upcoming economic reports affecting mortgage rates

For more information about mortgage rates and buying a home in Raleigh, follow Jason & Scott Graves on Facebook and Twitter or call us with any questions at 919-981-5795.