By Rob McNelis
Eight days into the government shutdown and just nine days until the government hits the debt ceiling head on and investors are undecided with what to do with their money.
Both stocks and mortgage bonds closed the day to the downside Tuesday.
The good news is that we have seen mortgage backed securities (MBS) rally for a couple of weeks now due to the turmoil and that has brought us some lower rates. We are not back down to the lows of March and April, but we are lower than the highs we hit in mid September.
This has helped many of the fence sitters that thought they missed their opportunity to jump it into the market and take advantage of these historically low home loan rates.
Please watch the attached video to see where home loan rates are at today. If you would like to talk about your specific scenario or needs, please do not hesitate to call or email me directly.
This statement of current rates is not an offer to enter into an agreement for a loan at a specified interest rate, number of points or both. Current interest rates and discount points are subject to change at any time without notice to you. Stated rate examples were calculated using a $300,000 loan amount, 80% LTV and 720 Min Fico at the stated term lengths. Licensed by the Dept. of Business Oversight under the Ca Res. Mtg. Lending Act.– 431-0421; Rates and charges in the advertisement do not apply to all loans made by the financial institution.
Rob McNelis
Loan Officer - NMLS# 830519
Direct: 619.279.6162
robm@summitmortgage.comwww.robmcnelis.com
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