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Monday, June 14, 2010

MORE OF THE SAME (and that's good)

This week's news in the mortgage world is about the same as last week's and the week before that.  To put it simply, the wild gyrations in the stock market and turmoil with the Euro has made our Treasury offerrings very attractive as a "safe haven" for investors.  When that happens the price of the bond goes up and interest rates FALL.  With average credit I'm seeing 30 year rates nicely under 5% with 15 year rates near 4%.  Would love to talk to you about your unique situation.  Send me an e-mail at guyclerc@hotmail.com.
Posted by Guy M. Petit-Clerc at 5:49 PM

Tuesday, June 1, 2010

These Historic Rates Continue

I've been seeing 30 year fixed rates as low as 4.75% with 15's around 4%!  It's been this good for a while so what's going on?  The expression "misery loves company" has some meaning in this instance.  I mean the confluence of the European debt situation along with our stock market rollercoaster has put a lot of jitters in the general financial world.  This is bad for investors but good for interest rates as people/institutions gobble up our treasury offerings whose apparent safety is very attractive right now.  I mean we are in striking distance of the lowest rates in history.  What a time to act!!
Posted by Guy M. Petit-Clerc at 12:33 PM
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