It's old news that are market is unpredictable at best. That being said, the few home buyers that are active have enjoyed the recent low interest rates and watched them inch lower for the past 3-4 months. This past week, we saw the mortgage rates spike on the grandest of scales. Rates move and expect to continue moving up, per the experts, nearly a whole 1% in recent weeks. It's important you know this if you have been expecting a certain monthly payment but have not yet locked in your rate. The monthly payment for example on a $200k home would be $70 a month more this week and 2 weeks ago with the spike in rates. Stay in touch with your loan guy or call me if you have questions.
As far as the affect that this could have on Real Estate here in Texas, for Frisco, Dallas and surrounding cities, maybe it forces the sellers to lower their listing prices, or maybe it inserts more fear in the already tentative buyers, and they stop shopping in hopes to see a better opportunity in mortgage rates in the coming months. Cross your fingers...I am!
Call for mortgage quote, Brad Lynch-469-450-2723
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Friday, October 17, 2008
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Testimonials & About Me
- Brad Lynch
- Frisco, Texas, United States
- In 2002, Brad Lynch began energetically consulting families in finding the right mortgage plan for their needs. In the beginning years, he was trained by a mentor who led by example, and this example was the epitome of integrity. Brad learned in the beginning by his mentor that many prospects may not consciously see what good intentions he has for them, do to the “wrap” many have caused w/in this industry, but always do what is right for the customer and in the end it will payoff. Integrity coupled with an energetic nature to nurture relationships, Brad has created clients for life. Through these clients for life, referrals have become the lifeblood of his business.
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