Thursday, June 3, 2004

Rates to Dip Before The Climb Continues

Trends indicate that rates have been steadily inching up although there have been a number of reversals as rates see sawed only to resume a rather jagged climb upward.

This is to be expected in the weeks and months to come with a little help from the Feds along the way. That said rates are still at very modest levels and ripe for home financing and refinancing.

An increase in unemployment and fewer new jobs than expected would likely create a stock market sell-off, leading to lower mortgage rates. This should create a slight upsurge in real estate financing and refinancing which would put more money into the economy on all levels.

All in all it looks like we may be heading for lower rates before they start climbing steadily again. But climb they will.