Those of you who refinanced last year locked into some excellent 30 year fixed mortgage rates down in the low, low 4's; those going for 15 year fixed mortgages even locked into the high 3's! But those "Gifts" unlike a diamond ring, do not last forever.
The good news is, those that may have missed the boat for whatever reason still have a chance to jump on board a ship called "4.75%" and that's still an excellent rate.
I was asked by one of my borrowers just this morning "why have the rates moved upward when the economy is still hurting?" The answer is yes, we are all still licking our financial wounds, but the economy has been moving slowly, very slowly in the right direction starting with a little better employment numbers, retail sales, etc, and thats enough to move rates a bit but I think 2011 will stay stable and keep rates in the high 4's.
Find out what's happening in Hamilton-Wenhamfor free with the latest updates from Patch.
The mortgage business is much more then about rates; in my daily blog I'll be disclosing mortgage facts and changes that are taking place on a day to day basis basis that you really should know about. I look forward to hearing your thoughts and if you'd like me to cover any Mortgage Subject in my Blog please let me know.
My office is located at 19 Hull Street in Wenham and in the spirit of community service i'll always be available to answer your mortgage questions!
Find out what's happening in Hamilton-Wenhamfor free with the latest updates from Patch.
Feel free to email me: Arthur P. Ingemi art@sierrabeverly.com or 978-232-0008. www.sierrabeverly.com
