The Blood Bath Continues!
Ok guys, we have lost another 100 Basis Points today so in the last 48 hours we have lost 234 basis points int he mortgage bond market! I am not sure how to put that into perspective but HUGE is not nearly a big enough to describe it.
Most lenders are going to be quoting around 4.75% now on 30 year fixed. 5% isn’t far off…
I will keep you posted if anything changes.
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Olan Carder American Security Mortgage ocarder@1asmc.com www.charlottemortgageonline.com 704-910-1456 – Work 980-721-7478 – Cell License #97565
We saw rates at 4.75% in our market last week. We spent the week contacting the many clients who have been sitting on the fence predicting rates below 4%. It looks like that train has left the station!
My fear is that when rates really do rise, they will be in the 8%+ range and that will do major harm to home buyers and sellers.
I am so informed by this post… Only that if mortgage rates will still be up, home buyers and sellers will slight be in trouble for this… Hope it will be just balanced in the market.