Now might be the time to apply for a home mortgage. Traders are looking at this week’s Federal Reserve meeting and its statement regarding interest rates.
Business expert Randy Havre explains why that feeling has been raising the 10 yr rate which directly affects home mortgage rates. “Last week mortgage applications spiked as folks were looking to lock in before mortgage rates go any higher. This is an issue in Hawaii as many are on the edge in respect to qualifying so higher rates price people, especially first time buyers, out of the market.”
Also in the news is Greece and the breakdown of talks regarding its bail out which actually could thwart higher US rates as a “flight to quality” could hold them down.