Weekly Rate Update 17Mar17 From Gerry Phillips With Movement Mortgage
Dated: March 19 2017
Its interesting how on the day the FED increase their benchmark short term interest rate (FED discount rate) by .250% that mortgage rates actually improve by an eighth.
These are telling signs of how jittery the market is... over reacting so much in the days leading up to the FED meeting/statement release, that it gave back .125% of what they had just recently taken away.
Quote of the week from Movement Secondary Market...
We should keep in mind these recent rate hikes are about returning monetary policy back to normal, not because the economy is too hot and must be cooled down with high rates.
The Fed is optimistic about its projections for inflation hitting its 2 percent target. This should allay fears that interest rates — mortgage rates, included — will surge too quickly anytime soon.
MORTGAGE RATES at a glance...
30yr Conventional (Fannie/Freddie) - mid to high 4s
15yr Conventional - high 3s
30yr Government (FHA, USDA, VA) - mid to high 4s
15yr Government - Low 4s
**Your Rate depends on several factors...
timing of your closing
loan amount, term, & program
You can depend on me for accurate and trustworthy information.
We Love & Value People... that is our culture at Movement Mortgage.
Thanks! ALWAYS feel free to call, text, or email me… any day, any time. My direct mobile number is 573-480-1978.
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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