Great Time to Buy!

The stock market had big-gain days this week and a bevy of optimistic news came out of Europe over the past weeks, while Treasury bonds traded lower.  Normally these would signal a jump in mortgage rates, but the economic formulas just aren’t working as we might expect.  In fact, adjustable-rate mortgage loans hit new lows this week and fixed-rate mortgage loans remained near all-time lows.  Freddie Mac’s Primary Mortgage Market Survey shows all of this, but also shows that the number of mortgage applications is tumbling.

Wake Up Homebuyers! Be aware that a lower volume of loan applications can mean a better deal for you the buyer on mortgage fees, etc. which are always negotiable.  Historically low rates + negotiable fees = GREAT TIME TO BUY!

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