It is reported Mortgage Interest Rate are near all time lows, well as that news comes out Dec. 3 & 4th coincidentally these past few days the interest rates have actually have been going up. This morning the unemployment report that came out this morning was quite a surprising which in turn caused mortgage interest rates to deteriorate. With a continued flow of positive news in the market like this, could mean the end low mortgage rates. With the government purchasing Mortgage Backed Securities program ending come March /April the chances are good that, that is going to be the beginning of the end of these extremely low rates, but with this type of positive flow of information that end could start sooner than that. This might be the time for those who have been sitting on the fence to take this as a bottom of the lowest rates and make your move. Barring any other shoes to fall scenarios that could drag the economy back down; such as the woes in Commercial Real Estate or maybe unemployment isn’t really as it seems to be and further job loss and the negative impact on housing too could drag the economy backyards again, this would be the signal of the end of the really low rates. So if you have been sitting on the fence you might want to ask yourself if you want to take the chance that there is going to be another leg down; also something else to keep in mind that as time passes since the mortgage meltdown the trend for more conservative lending standards is continuing to tighten making it more and more difficult to refinance or purchase. There is a continued movement to reduce Loan To Values requiring either more money down or more equity in your property in order to qualify for a mortgage. Other changes that are continuing to make it more difficult to qualify is the reduction of qualifying ratios or debt to income ratios.If you would like an interest quote and are considering a refinance CLICK HERE to visit my website and fill out a secure application.

Andrew Hahn Specializing in superior customer service.