Mortgage Rates are rising slightly this week due to market optimism of impending new stimulus plan to help small business and families suffering financial hardship due to the COVID pandemic. Economic indicators along with a mixed bag of earnings this week show the economy surprisingly resilient, however I expect stock market volatility to rise in coming days leading up to the election which should trigger capital flows into bonds. Speaking of which, we still have no firm bottom in place for bonds, so LOCKING-IN as soon as escrow open is the smart move right now.
Our rates are still amazing, and our purchase loans are still closing in 30 days or less!
SOURCE & AUTHOR |
Keith Murphy Branch Manager – Essex Mortgage NMLS #330827