October 18, 2017

Seattle / Bellevue Real Estate Mortgage Rate Watch 10/22/10

Seattle / Bellevue Real Estate Mortgage Rate Watch: Today at 1:00 ET Philadelphia Fed President Charles Plosser will be speaking about the Federal Reserves potential actions.  In the last 48 hours we have heard twice by board members that the purchase program could be up to $100 Billion per month. 

Homeowners, rates today are moving in pattern that has developed over the last 8 weeks as rates have trended to move higher Thursday and Friday.  However with that said the same pattern shows that rates have moved lower Monday, Tuesday and Wednesday.  This is based off of the tracking the actual market.

Homeowners Education:  Do you have a “Home Equity Line of Credit?”  speaking with Financial Advisors and Tax Accounts which are warning their clients to refinance out of the these second mortgages. 

Why? Inflation.  With interest rates at historical low levels it is time to take advantage of refinancing.  Combining your first and second mortgage is a wise decision.  When inflation returns these Home Equity Lines of Credit stand to be very vulnerable to interest rate hikes.  Because they are a variable rate they will react immediately to the market changes.  This can change the monthly payment significantly.  You may be paying some principal right now, but when rates move higher that payment may all go towards interest. 

Any breaking news we will update our twitter and facebook pages.  Have a great weekend and we will talk to you on Monday.




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