Charlotte Mortgage Update- 6-3-08- Rates and The Week Ahead
The Charlotte Mortgage Update June 3, 2008
by Olan Carder Olan is an outstanding local mortgage guy I’ve worked with the last three years.
To Lock or Not to Lock, that is the question… More precisely, if my home closes in the next 15 days I should do what??
With the caveat that I can not see into the future, nor do I know your situation, if its my money, my advice is still to lock. Rates got a fraction better today, but nothing to write home about. Fed Chair Bernanke’s conference in Spain wasn’t good, as he indicated continued concern about inflation. Concern about inflation translates into no desire to lower rates and potential rate increases are “inbounds.” Factory orders rose more than expected which is good for stocks and bad for bonds… more earnings reports today, expecting mostly negative ones. (bank stocks)
30 Year rates are still around 5.875% and 15 year fixed are running around 5.5%.
We offer rate protection against higher and lower rates! If that peeks your interest – give me a call!
NO-COST LOANS are hot, but for all the wrong reasons!! Check back here for my upcoming case study on a recent client that took the NO-COST LOAN for all the right reasons!!
FHA and VA loans are still hot too! If you are a veteran, you should own a home… it’s the best deal going!! FHA remains a rock solid way for first time buyers- and now with the higher limits just over $400K 2nd and 3rd time buyers- to get a great rate with lower down payments.
Mortgage Bond Chart: (Higher Bond prices = Lower Rates)
Apply Today at http://www.mycharlottelender.com/applyNow.html.
Your Charlotte Mortgage Specialist
Myers Park Mortgage
Moving to Charlotte? Considering a Move? Call me, Terry, about these or any other homes in the greater Charlotte area at 704-351-1519 or Search All Charlotte Homes , for that perfect home in Charlotte.
Search Charlotte-By Area
Home Prices Rise in South Charlotte in First Quarter of 2008
Myers Park Homes for Sale- Over $1M