Interest Rates Up Slightly for the 2nd Straight Week

For the second straight week, we have seen an increase in the 30 year fixed rate but again in was a small one of only 4 basis points. It has been 6 weeks since we last saw back to back increases but certainly we are not seeing the volatility in the markets and rates seem to be “settling” in to a tighter trading range. As of this morning, the average overnight rate for a 30 year fixed rate sits at 4.84% up from the 4.80% we were at a week ago. Remember this is the average overnight rate and those with good credit will still be able to lock in rates below these averages.

The benchmark 15 year fixed rate also increased last week to 4.11% from 4.08% while the benchmark 5/1 adjustable rate mortgage moved slightly to the upside to 3.46% from 3.45% the previous week. 

Recently, a “hot” stock market has many investors excited and we have seen some move investments out of bonds, which tend to be more conservative. If this trend continues we may see demand for bonds fall, which have a direct impact on interest rates, and yields rise meaning upward pressure on rates. So, as the economy continues to improve we should see more demand for equities, less for bonds and a higher interest rate environment. Just another reason why today may be the best opportunity to lock up the right home that we may see for a very long time.

We take great pride here at “Results Driven Real Estate” in providing our clients the very highest level of service available in the industry. If we can be of assistance in any way with questions you may have about your real estate goals please feel free to contact me at your convenience for a complimentary consultation.
 

Always at Your Service,

 
Tom Priester   e-PRO
“Results Driven Real Estate”
 
Keller Williams Realty
561 308-0175
tom@tompriester.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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