Posted on: 21st May, 2013 12:18 am
Mortgage rates have shown some signs of rising tendency. Because of the resurgence in the equity market as well as in some other economic indicators, investors are increasingly investing in stocks and withdrawing money that they invested in bonds. This is putting upward pressure in the mortgage rates.
Hope the Federal Reserve's effort to continually buy mortgage backed securities will keep the interest rates in check.Rise in rates at this time will not be good for the improving property market.
So, finally we could see some increase in the mortgage rates!
It should be noted here that in case of most loan programs, rates have gone up as much as ¼ percent in the last 10 days. This is mainly due to the rise of the yield on the 10-year bond note which is the 1.9 percent range.
It should be noted here that in case of most loan programs, rates have gone up as much as ¼ percent in the last 10 days. This is mainly due to the rise of the yield on the 10-year bond note which is the 1.9 percent range.