Rates are Still Historically Low!
It’s easy to
forget how good we still have it when rates on a 30 year fixed rate mortgage
were in the low 3’s. One of the most
significant ways the Fed stimulates the economy is lower and raise rates based
on a variety of factors, such as the unemployment rate (which is currently at
record lows). Since the US economy has
had a good run lately, the Fed has started to steadily increase the rate at
which lenders borrow money. We pass the
cost on to the borrower in the form of higher interest rates.
As
30 year fixed rates climb back into the 5’s however, ARMs will be a tool that
many buyers will consider to lower their monthly payments. Call the Easterbrook Team for other options
as well.
The Easterbrook
Team
916.850.6050
"We Make
the Loan Process Easy!"
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