Are you wondering about the direction of mortgage interest rates and how they will influence your future home purchase or current home loan? Borrowers are consistently asking about my expectations.
I’ve been working in mortgage lending 35+ years. My career was built on reading as much info on all the statistics and factors influencing interest rates. Just when you think you KNOW the direction, the market will surprise you. The market is both rational and irrational. Everyone’s crystal ball is cloudy. No one person knows the market direction.
Solution: Today, the best 30-year fixed rate is 6.99%, 7.087% APR, versus 8% 40 days ago. I believe rates will continue to move down a little bit, up a little bit and primarily stay flat in a .50% rate range for the next 3 months, as the Federal Reserve assess the impact of the higher Fed Funds raises during the last 18 months. FYI, here is the link to the Fed Funds rate history since 1955. I continue to believe long-term rates will continue to decrease during the next 1-4 years.
In general, realtors and loan officers continue to say the market is quiet. Well, maybe for them, but not for me. I receive daily requests for residential and commercial purchase loans, borrowers actively submitting offers and purchasing homes, getting HELOCs, cash-out refinances, etc.
Call me to get the best current rates & loan programs, 714-310-4162.
Rave review on Google:
“Working with Dan Stone was great! He was able to find us a great interest rate! Dan walked us through each step and followed up as we worked with the Loan Officer. Since my wife knows Dan personally, we knew he was trustworthy and would have our best interest at heart. We appreciate what Dan was able to do for us and encourage everyone to reach out to Dan to see what he can do for them!” -Bobby T.