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The Debt Ceiling Has Been Raised-How Does That Effect Mortgage Rates?

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.

United States Debt

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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Office Location: REALTY ON MAIN - 301 N Main Street - Alpharetta GA 30009 - North Atlanta Home Team LLC- 678-540-4000 Deborah Weiner 678-628-8865- Each Office Independently Owned and Operated.