Fresno Realtor, Joseph Hollak

Low mortgage rates may not last

A few days ago I wrote about how missing the tax-credit deadline could save you money in part because of the low interest rates we’re seeing right now in mortgage loans.

True, Fresno mortgage interest rates are near record lows and rates haven fallen since the tax-credit deadline expired. But, don’t delay in locking in your rate because you think low rates are a long-term condition, according to experts.

“If lending standards start to stabilize, that’ll be another reason to remove the emergency measures, including the zero rate.”

~ Jay Bryson, Senior Global Economist with Wells Fargo Securities LLC

EVIDENCE OF IMPROVING CONDITIONS

If economic conditions improve in the near term, mortgage rates could go higher as a result of the Federal Reserve raising key interest rates as a defensive move to fight future inflation.

American consumers are becoming more educated and more serious about paying their debt on time. Target Corporation is reporting that company’s lowest credit card delinquency rate in two years and past-due credit accounts at American Express have declined 34 percent since last year.

TALK TO YOUR MORTGAGE EXPERT NOW

Don’t wait for Fresno mortgage interest rates to move higher before you move on buying Fresno real estate. Speak with your mortgage expert now and discuss a game plan that makes sense for your goals.

If you need a mortgage expert you can trust, we have worked with some very smart individuals locally and would be happy to refer you to who we trust.

Call Joseph Hollak at (559) 320-0690 with Keller Williams Realty Fresno.

Source: REALTOR Magazine (05/28/2010)

One Comment

1. 

   While we're discussing Low mortgage rates may not last by Fresno Realtor, Joseph Hollak, The definition you need to hold of a "successful loan modification" is where the borrower is able to keep their residence. Any loan modification business that takes fees after they've a client's budget and knows they can't afford the payment, is inherently unethical.

   mark nordlicht / 15 Feb 2011 / 4:07 AM