Rates Are Going Up

It is no secret that interest rates are going up, and they are going up steadily. Freddie Mac does a periodic survey in which it was proven that the interest rates were in fact going up and getting closer to the 5% mark. Naturally, the fluctuation in interest rates is affected by what is happening around the world, and political concerns are never really all that far from home.


To give you an idea of how the rates on the 30 year fixed mortgage have been fairing, let’s take a look at the most recent changes. The week prior to the tsunami, rates were hovering at around 4.76% on the 30 year fixed, and now they are hovering at 4.81%. It doesn’t sound like a lot, but this time last year they were at 4.99%, and the market has been nothing but a yo-yo ever since.

Mortgage rates are still somewhat low, but over time that is going to change. I know I keep saying that, but ultimately it’s the truth. There is no way that the market can stay where it is with everything that is going on in the world. Everything that is happening in Japan and Libya ultimately affects our country, but so few realize this.

The housing market did experience a setback, but we can continue to look forward to new and better things as we move forward.



-Mayer Dallal