Weekly Rate Update 28Oct16 From Gerry Phillips With Movement Mortgage

Dated: October 30 2016

Views: 895

Slow but sure... Mortgage Rates continue an upward climb in anticipation of a short term interest rate (FED reserve rate) increase by the Federal Reserve Bank Board. 

Quote of the week from Movement Secondary Market.... 

Now that we’re a few months removed from the Brexit, and global economics look more stable, economists expect interest rates to stabilize and trickle upward at a moderate pace. Refinance activity has already begun a descent this quarter, and a potential December interest rate hike by the Federal Reserve will likely pump the brakes further on this summer’s refi surge. 

Furthermore, Since wage growth helps eliminate one of the most common barriers to homebuying — affordability — Freddie Mac’s forecast for next year calls for a gradual increase in the number of new housing starts. That creates an opportunity to tap into a segment of would-be homebuyers who have held off on taking out a mortgage for fear of financial uncertainty. 

MORTGAGE RATES at a glance... 

  • 30yr Conventional (Fannie/Freddie) - high 3s

  • 15yr Conventional - right at 3 to low 3s

  • 30yr Government (FHA, USDA, VA) - mid 3s to high 3's

  • 15yr Government - low 3s

**Your Rate depends on several factors.. 

  • timing of your closing

  • loan amount, term, & program

  • credit score

  • property type

  • % down

  • etc....


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) 

Movement Mortgage 

573-480-1978 (mobile) 

573-818-2169 (fax) 

www.movement.com/gerry.phillips

Blog author image

Kathy Beeler

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....

Want to Advertise on this Site?

Latest Blog Posts

Property Estimates PLUS Lots More

https://newsletter.homeactions.net/archive/newsletter/16753/11692812

Read More

Property Estimates PLUS A Lot Of Extras

https://newsletter.homeactions.net/archive/newsletter/16753/11692812

Read More

Jan 14 2021 66083 Ginny Mueller Home Actions Newsletter

What to Do? Check out a few tips to help with quick home improvement ideas.Ginnyhttps://newsletter.homeactions.net/archive/newsletter/16753/12105773

Read More

Did You Know This About Thanksgiving Becoming A National Holiday

Thanksgiving Becomes a National HolidayPilgrims held their second Thanksgiving celebration in 1623 to mark the end of a long drought that had threatened the year's harvest and prompted Governor

Read More