We have been warning of increasing mortgage rates for awhile now, and this week we have started to see it happening! This week marks the worst week for mortgage rates in months.
The Labor Department reported this morning that only 11,000 jobs were lost in November, which is much lower than the 125,000 expected. In addition, the Unemployment Rate improved to 10% when expectations were for 10.2%. While all of this is good news for the economy, it’s not such good news for mortgage rates which rose in reaction to the reports.
It’s not time to panic yet…rates are still at historically low levels. It is, however, time to take advantage of these rates if you haven’t done so already.
With the government stimulus programs (tax credits for purchases & expanded lending guidelines for refinances) there are numerous opportunities both for those looking to purchase or those looking to refinance. Don’t miss out on this opportunity!
~ Courtesy of Wendy Charles, LoanCentral LLC, 425.468.9321, WendyC@LoanCentral.com
- Jeanette Eide
- Bellevue, Washington
- I’m a full-time professional Realtor specializing in residential resale and new construction in Seattle, Bellevue, Redmond, Kirkland, Issaquah, Newcastle, Sammamish, Bothell, Mill Creek, Snohomish, Everett, Woodinville, Kent, and Renton. Together with my husband Erik, we have over 17 years experience. We take the time to listen – getting to know you and establishing your exact needs. From there, our sole focus is getting you where you want to be, on time, in the smoothest manner possible. Together with our team of professionals, the closing of your transaction will be handled knowledgeably with the attention to detail you expect and deserve.
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