Week ending May 9th Rate Report
I know there is a lot of doom and gloom in the media these days about rates and the real estate market; it is my intention to update you often on where rates stand. It is a great time to be a buyer, if you have been thinking of purchasing an investment property or two, NOW is the time, call me and let’s talk!
Last week started off with rates higher than the week before. However, rates spent most of the week going down slightly only to jump back up in the last couple hours of trading on Friday. Overall rates ended the week slightly higher than last Friday
Rates for the weekend:
FHAs and conforming conventionals are ranging from 6.000% to 6.625%.
Jumbos are running from 8.00% to 8.50%
These are slightly better than last week.
The amount of purchase activity is continuing to increase.