Mortgage Rates: High Risk Events Produce Little Drama

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Two high risk events came and went over the last 18 hours. The State of the Union address and the release of the FOMC Statement. Although the market's reaction to these events was not directionally friendly to rate watchers, the process was about as gentle as we could have hoped for. The State Of The Union address and the release of the FOMC Statement were widely expected to shake things up. If you are a short term opportunist, they did just that. Upfront borrowing costs rose today by almost 3/8ths of a point (as a percentage of your loan amount, paid at closing). This intraday volatility is par for the course lately though. If you're a long term opportunist or even a medium termer...you didn't gain or lose much ground in the past 18 hours. The "best execution" conventional 30 year fixed mortgage...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com