After a much needed vacation we return to continued volatility in mortgage rates. The 30 year fixed rate reached its highest level in over a year last week as oil prices receded, strengthening the dollar and sending investors back into stocks. We do not believe the current market supports this level. For that reason we are adjusting our long range outlook for the 30 year fixed rate to *5.75%-6.25%. We expect continued strong volatility within this range for the near term.
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.
Thank you for the opportunity to serve you.
*Rates include a 1% origination fee. Terms and conditions apply.