INTEREST RATE UPDATE | Interest Rates and MBS prices are currently almost completely dependent on the impending end of QE3. Any sign as to when “tapering” will begin moves the market. During summer 2013, as easing appeared imminent, interest rates spiked and there was an MBS sell off. Wednesday’s big announcement is the ADP Employment Report, which measures private sector labor market. The current consensus is +185,000 jobs for November. If the number comes in higher than consensus, expect to see an MBS sell off and a spike in interest rates. Thursday will bring Jobless Claims and GDP and Friday is Employment Situation. Expect volatility later in the second half of this week.
MORTGAGE UPDATES | Adjustable Rate vs. Fixed Rate Mortgages. With fixed rates slowly climbing as tapering nears, adjustable rate mortgages (ARMs) may be a better option for some home buyers. An adjustable rate mortgage might be preferential for those who intend to only own the property for a shorter period of time. This is due to the lower interest rates for ARMs during the initial fixed period.
CONTACT US FOR A FREE CONSULTATION
Find out what's happening in Carlsbadfor free with the latest updates from Patch.
OR OUR LENDER RECOMMENDATIONS AND
FREE STRATEGY DESIGNED TO MEET YOUR GOALS!
Find out what's happening in Carlsbadfor free with the latest updates from Patch.
Real Living Lifestyles CA BRE# 00800550
Call Direct @ 760-644-8426
