Interest Rates Jump 13 Basis Points to New 4 Week High

Interest Rates Jump to 4 Week Highs



Interest rates jumped last week for only the second time in seven weeks and it was a significant move. In fact we have to go all the way back to February 13th to find a larger one week jump in rates. No doubt there is continued uncertainty in the equity markets around the world and while the Fed tries their best to keep rates down we can expect that volatility will hang around.


As of this morning, the average overnight rate for a fixed 30 year mortgage as reported by Bankrate.com was at 4.17% up 13 basis points from where we stood one week ago. The benchmark 15 year fixed rate standard was at 3.47% up 9 basis points from last weeks level of 3.38% while the benchmark 5/1 adjustable rate mortgage also moved higher by 4 basis points to 3.06% from 3.02%. While nobody can sat the lowest rates are behind us they did seem to bounce off the 4.0% support level so we will have to see what the future brings.

With the Fed investing in longer term Treasuries rates continue to be under pressure but many potential buyers are still on the sidelines evidently not impressed by the lowest rates they have ever seen, and probably ever will see again. But can they go lower is the question on many buyers, and those contemplating another re-finance, minds. I quit guessing where rates might head from here and so far this deflationary mood is working but would likely vote to act here. I have heard 3.25% rates projected but would be very surprised to see that. Shocked no, very surprised yes. Either way you know we will be here to keep you up to date with the latest news affecting your south Florida real estate.
 
“Results Driven Real Estate” is dedicated to providing our readers the most timely information and analysis of the metrics affecting the real estate market. It is this passion for our business and our customers that makes dealing with us different; we care not about closing the deal but ensuring we are helping each client make the right decision based on their individual circumstances.  Again, if you are going to borrow money to purchase your home NOW is the time and I beg you not too wait too long. If we can be of help in any way just give Tom a call at 561 308-0175 or send an e-mail to tom@tompriester.com and we are most happy to serve you in any way that we can.

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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