Real estate rates are stagnant for 30 year fixed mortgages and have remained stagnant for a couple of months now. There doesn’t appear any shocking news that will make them change either. The war in Ukraine, North Korean rocket tests, Iranian Navy boats harassing other countries ships in the Persian Gulf nor any other subject seems to affect how Real Estate market changers (think large mortgage backed securities purchasers) go about their business! Real Estate mortgage rates for a conforming loan with 20% down on a purchase are drifting from very high sixes to very low sevens for zero points. That’s not bad for the history of interest rates, but it is far from the mind blowing lows that were available, and still linger in the backs of all our minds (even though it has been well over a year since those rates were available). So it is decision time if you are in the market for a new home now…keep waiting for the Real Estate rates to drop, or get in now and protect yourself from the chance rates could go even higher! My advice is to make an offer now. The more competition sits on the waiting fence means the fewer people you have to worry about when bidding on a new home. So make the stagnant real estate rates work in your favor and call Mitchell Mortgage today to get pre-qualified for your first or next home!
530-406-2200 work or 707-337-5970 cell!
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