MORTGAGE WATCH

Mortgage Rates are actually HIGHER this week, and, thus, time once again to check in with the slew of mortgage rate headlines that typically follow the release of Freddie Mac’s weekly mortgage rate survey. Here are a few choice selections:

“U.S. Mortgage Rates Fall for Second Week”
“Mortgage Rates Continue to Decline”
“30-year mortgage rates fall to 3-month low”

And so on and so on… The only issue here is that they’re all wrong. Rates aren’t lower today, nor are they lower this week, nor are they at the lowest levels in 3 months. They’re actually at their highest levels in several weeks! Mainly due to the bond sell off after HOT inflation numbers came in this week (see chart below) *reminder when bond prices fall, rates go up.

SOURCE & AUTHOR |

Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140

Apply: www.GoTeamMurphy.com

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 43 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and son Matt, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 23 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, as well as sponsors Paper Shredding and E-Waste Recycling events twice a year.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.