A running commentary on the Wenatchee real estate market in and around North Central Washington 98801. Hints and tips on buying Wenatchee homes, selling homes and finding the home you want. Real estate sales in Wenatchee to Leavenworth. Home buying? Home selling? Looking for Wenatchee Real Estate? Stop by here.
30yr, fixed rates as published dropped today. Rates are under 6% and will likely remain in about a 1/2 % range over the next month or two. APR are higher and will depend on many factors. We have several good, reliable funding sources. It pays to shop around a little.
posted by Perrin at 4:35 PM
Over twenty years experience in Real Estate and marketing. Including finance, secondary marketing and devlopment.Director NCW Realtors and Washington Association. Holds the Accredited Buyers Representative designation. Realtor of Quarter, 3rd Qtr '06
2 Comments:
If the Fed raises rates how long can the mortgage rates stay low...won't they go up too?
9:48 PM
I think you are pretty much right on. I look at rates as having several components. The first is expectation of inflation. If the outlook for 30 yrs is higher (or even 7 years) inflation then rates will go up. The Fed by raising short term rates is attempting to damper the long range forecast. However, if the curve between long term and short term gets inverted (it has a few times) then regfardless of outlook mtge rates will rise.
The second is opportunity. Again if short or intermediate rates rise enough to make the risk of long term unattractive then again rates go up.
Finally there is the stock market as was pointed out. Where can you get the best return? Money will go to quality.With some tradeoff for yield. Therefore is quality stocks go up...especially if their dividends go up then rates will have to adjust.
My personal thoughts are mtge rates between 5.75 and 7.25 over 18 mos. Which is really pretty good.
4:23 PM
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