Mortgage bonds are down 128 basis points on the day causing interest rates to rise yet again.
Some of the news that is causing this is our current income tax rates which were to move higher on January 1st have now been extended for another 2 years.
The Emergency Unemployment Compensation that was set to expire has also now been extended for an additional 13 months. 2 million people were estimated to have lost these benefit payments in the next few weeks if this benefit wouldn't have been extended.
Interest rates will continue to rise in 2011. Rates are still very low if you are looking to refinance I would suggest doing so soon to take advantage of these low rates. Those looking to purchase now is a great time as well with the prices of homes and interest rates are both low.
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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