The Debt Ceiling Has Been Raised-How Does That Effect Mortgage Rates?
August 2nd, 2011 categories: Atlanta, BUYERS only, Real Estate Forum
With so much going on in the market with real estate and the government deficit, here is the latest update straight from our local Mortgage broker as of today. The Debt ceiling has been raised (being signed now)…it appears the short term affect (today!) is slightly lower rates.
As we see the fallout over the next few days we’ll have a better idea of the affect on the economy. A debt downgrade may impact confidence which in turn may impact rates…we will see how this plays out. The stock market certainly is not helping as the DOW continues its week long downward trend now below 12,000 points.
30 year Fixed: 4.250%
15 year Fixed: 3.375%
30 year FHA: 4.250%
5/1 ARM: 2.750%
7/1 ARM: 3.250%
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