November Market Update: mortgage rates not going back up yet

Mortgage Rates continue to stay low!

Interest rates are constantly changing and it’s imperative to look at the economy and housing market context. SnapFi reports the rates on the first week of the month from Freddie Mac.  The important thing to keep in mind is that even if the rate climbs slightly month to month we need to look at the big picture. Rates continue to stay at the lowest points in the past three years.

There are many reasons to refi or lock a purchase rate.

• Lower your payment and keep more money in your pocket
• Pay off your mortgage earlier
• Consolidate your debt
• Make a remodel your reality
• Pay college tuition

snapfi, inc. is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act NMLS #216565. This is not an offer of credit or commitment to lend. Loans are subject to buyer/property qualification. Rates/fees are subject to change without notice. Total Cash Required may include prepaids/impounds, not cash reserves which may be required for some conventional loans. Total Payment may include taxes, insurance & mortgage insurance.

Source: http://www.freddiemac.com/pmms