Weekly Rate Update 02Dec16 From Gerry Phillips With Movement Mortgage
Dated: December 3 2016
The volatility in the bond markets, I believe, is due to the markets trying to determine to go up more or fall back a bit. The direction will depend on wording in the FEDs statement after their next FOMC meeting (December 13-14) and what happens abroad... most specifically (at least right now)... the vote pending in Italy on Sunday, December 4th.
Quote of the week from Movement Secondary Market....Historically, this is still a low-rate environment, but we are shifting to a more normal low-rate range instead of these all-time lows we saw earlier this year. Given the uncertainty that still exists as Trump transitions into the White House, I’m expecting plenty more weeks like this one where volatility and quick reactions to economic news keeps us all on our toes.
MORTGAGE RATES at a glance...
30yr Conventional (Fannie/Freddie) - low 4s
15yr Conventional - mid 3s
30yr Government (FHA, USDA, VA) - low 4s
15yr Government - High 3s
**Your Rate depends on several factors...
timing of your closing
loan amount, term, & program
You can depend on me for accurate and trustworthy information.
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Accessible, Responsive, Decisive, Dependable Lender….
Gerry Phillips, Loan Officer (NMLS #505678)
Kathy Beeler is a trustworthy Lake of the Ozark Realtor, who is reliable and knowledgeable when it comes to buying or selling properties in Lake of the Ozarks area. If you are in need of a professiona....
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