Interest rates are up!
Interest rates are up! If you haven’t heard interest rates over the last few weeks have popped up into the low – mid 3% range for a conventional 30 year fixed with good credit. Of course, you can still pay points to buy the rate back into the upper 2’s but help your clients that pre-approved 3+ weeks ago know that this was a market move. I do think that rates moved a little fast and I wouldn’t be surprised if we see a bit of a pullback over the next week or two. But the general trend is a slow increase throughout the rest of 2021 with rates predicted to end the year in the upper 3’s. We are going to host a 15-30 minute Zoom meeting next week to talk more about rates, where I think they are heading, and what to expect for the Spring market. Be sure to sign up!
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