Florida Mortgage Trends

Mortgage Rates have moved Higher - Beware

December 29th, 2009 8:57 AM by Scott Bray

Mortgage rates took a beating last week during the Christmas Holiday's.  We haven't seen interest rates quite this high in months. Even the most aggressive lenders are now creeping towards 5.25% (for WELL-QUALIFIED borrowers).

During the course of the holiday shortened work week, benchmark Treasury note yields rose persistently which lead mortgage backed security prices lower and forced lenders to offer even higher mortgage rates.

I would look for rates to be maxed out for a little while with hopes getting a little lower in the short term but much higher by the end of the year in 2010.

Posted in:General
Posted by Scott Bray on December 29th, 2009 8:57 AM


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