Wow – it has been an interesting week or two. With all of the economic news, and with QE-2 ending June 30th the buzz was to expect higher mortgage rates. Sure enough, the 10 year bond popped from the low 2.90′s up to almost 3.20. This caused mortgages to jump up close to .25%. Now, with the worries about Italy, Greece, the Euro, The Fed, the debt-ceiling debate, poor job numbers (all of the above and more!) the bottom has fallen out of the 10 year bond and it is now in the high 2.80′s. This has pushed mortgages back down.

If you are considering refinancing now is a very good time to lock a rate. We have been advising clients for some time that when rates hit these levels to take action to improve their mortgage positioning.

By the way, if you are looking to save or invest and are seeking financial help I can recommend a expert Financial Planner to help you develop your financial plan. I am a Gold Resource Partner with the Financial Planning Association of San Diego and have relationships with many financial planning experts. Let me know if you have this need.

In the meantime, stay in touch and let me know if I can help you with a home loan.

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