Looking at Mortgage Rates This Week : September 19, 2011
Last week interest rates rose just a bit with the concern in Europe seeming to ease. The additional stimulus that is being proposed in the U.S. also supported the slight increase in interest rates.
The Federal Open Market Committee will be meeting for a couple of days to announce a new stimulus plan. In the past couple of years whenever the Federal Reserve has stimulated the economy interest rates have fallen. With interest rates already at record lows what will happen this week?
There is some additional data to be released this week including the Existing Home Sales and Housing Starts but the focus will very much be on the world's central bankers as they address the concerns in Greece.
If you are looking to refinance or lock in your interest rate on a purchase at this time just keep in mind that interest rates rise much faster than they fall and with rates at record lows you are in a great position now to lock things in and stop putting your interest rate at risk. If you have any questions contact a loan officer for a free consultation toll free (866) 825-6261.