03 February 2008

Rates are down... Can Mortgage Interest go up ??

If the Fed rates go down, why are some people predicting Home Mortgage rates to go up? It sure doesn't seem to make sense, but that is the conventional wisdom.

If thats true , and your buying a home or condo, or just beginning to look for a new house for your family, maybe you should think about locking in an Interest rate before you move much further.

I know it's confusing, but it's worth looking into, as an increase of even 1% can make the house payment, on that new home unaffordable.

I'm going to pass on an article that Corie in our Salt Lake office sent out Saturday. It was simple, answered some basic mortgage rate questions and may clear up some of that confusion. Corie got the information from one of her preferred lenders, who got it from an associate. You'll get it from me, and if you see anything of interest you might even pass it on.

To read about how your home mortgage rates can be influenced by rate cuts, click on Corie home mortgages. Enjoy.

For any other Real Estate related questions, go to our website Tooele Homes and see the latest information available about buying or selling a home in Tooele County. To call, 435-840-5029.

Remember, when rates go down, mortgage interest CAN go up.!!!



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