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Mortgage Rates Rise Slightly

As of Friday, March 23rd, the housing market saw a slight increase in mortgage rates just over the last 7 days and has slowly ticked up over the last 2 weeks.  It is anticipated that they will remain flat for just a short period of time before they start to rise again, and they will rise.

New home sales nationally, declined for the second consecutive month in February, falling 1.6 % from the week prior, but still up 11.4 % from February 2011.  Parts of North Dallas (Frisco, McKinney & Allen) did not see this decline but instead experienced an increase in new home sales by 6.5 %, on average.  New construction permits for Frisco rose 36% with the opening of 3 new home construction developments.

Next week is the week to watch as some housing data is reported, followed by Durable Goods Orders, Jobless Claims and Personal Income.  If this data is positive, we can expect further increases in mortgage rates.  These can be affected by news from the Fed, China, Europe and especially Greece.

I'm sure I sound like a broken record, but NOW IS THE TIME TO SELL, OR BUY OR REFINANCE!  There is a risk that the rates will rise further, and faster, if you wait any longer.

20 Comments to Mortgage Rates Rise Slightly:

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Florida Title Companies on Monday, May 07, 2012 7:50 AM
appreciate the insight. I've seen new construction picking up..so it's a positive sign of good things to come.
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Sherry Renfroe on Monday, May 07, 2012 10:28 AM
New construction is always a good indicator. Both commercial and residential!

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Nice post!all the information provided is really very good and useful,keep sharing the nice stuff.

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Quick Property Sale London on Wednesday, April 17, 2013 11:51 PM
Thanks for sharing such a nice info with us about the mortgage rates. Fantastic writing skills. I appreciate this blog.
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Continuing education mortgage agent on Tuesday, May 14, 2013 4:42 AM
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motor vehicle claim lawyers on Wednesday, May 29, 2013 5:39 AM
There are many different types of mortgages available to suit people from all types of financial backgrounds: Tracker Mortgages, Buy To Let Mortgages, CCJ Mortgages, Current Account Mortgages and many more.thanks for the post.
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Improving your credit score on Friday, May 31, 2013 3:03 AM
I think the mortgages factor is related with the economy the government raises rates because they collect want to collect money and get rid of recession as soon as possible all things depend on flow of money
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flat Dubai on Saturday, September 28, 2013 4:14 PM
Refinancing only makes sense if you have enough payments left on your mortgage to actually benefit from the savings. Regardless of the refinance rates, the deal has to make sense in practice, and not just in theory.
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rental Dubai on Saturday, September 28, 2013 4:15 PM
If you have decided to refinance, you should consider your current credit score. Even if the current mortgage rates are excellent, you will most likely not benefit if you do not have a great credit score.
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Transfer money to Iran on Tuesday, March 04, 2014 1:17 AM
There is an increment in mortgage rates. But after analyzing the market, i think the rates will go down for sure in 2-3 weeks.
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