Mortgage rates continued to fluctuate as mortgage-backed bonds moved over a 100bps range last week. Today, we are seeing improvement in bonds and expect the 30 year fixed rate to be between 6%-6.5%. We do expect mortgage rates to increase again in the near future as a result of the proposed Fed Rate Cut. We believe the long range outlook for the 30 year fixed rate to be 6.25%-6.75% now that we see inflation sticking around for a while.
Today’s home financing requires a mortgage professional able to secure a loan program, terms, and an interest rate that best suit your overall financial strategy and your current financial needs. Your mortgage professional should also account for the current, short-term, and long-term future economic outlook.
The David M. Damare’ Team is committed to securing your financial lifestyle using the latest market monitoring tools and mortgage lending strategies.
Rates available anytime upon request at 919.851.0999.
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