Feds said today that the economic recovery is too slow to effect unemployment. The Fed Funds rate will remain unchanged at .25%.
This is having a very negative effect on mortgage bonds. Mortgage bonds are currently now down 131 basis points on the day which is causing lenders to raise interest rates.
Rates the past few weeks having been trending higher and are almost back to what they were earlier this spring.
Rates are still very attractive, if your looking to refinance or purchase I would lock in your rate soon as rates should continue to rise in 2011.
Ron Meyer is a Wisconsin licensed Sr. Loan Originator NMLS #222688 with GSF Mortgage Corporation NMLS #1018 located at 300 Patriot Dr. Little Chute, WI 54140 We specialize in financing purchases and refinancing home loan mortgages for all of Wisconsin. As a local lender we pride ourselves on offering quality service before and after your closing. Our underwriting is all done in house, allowing us to have quicker than normal processing time of your loan.
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