September 23, 2017

Current Mortgage Rates for Bay Area Real Estate

Consumers were shocked last week when mortgage rates failed to shake out downward after recent rises and instead showed major traction and momentum upwards.

Will the rise continue long term and how will it effect Bay Area Real Estate Prices?

Mortgage Rates Rise Higher in Biggest Two Day Jump on Record

Bay Area Mortgage Rates Current Mortgage Rates Rising

 

Mortgage Loan Originators Prospective on Recent Rate Hikes

“The recent events leave me speechless. In my 10 years in the industry I have never seen a meltdown this quickly and dramatically. We cannot control the market, but we can control our emotions. Closing within 30 days should be locked up. 30-60 days should consider locking as well. Any technical or fundamental basis for floating has been diminished. Is there a saving grace? Perhaps if we continue to see liquidations in commodities & stocks (domestic & foreign) we may benefit from a quick trade, but again, the table has been st for higher rates. Soup, salad, & appetizers are served, main course on it’s way….question is how is your digestive system?” –Constantine Floropoulos, Quontic Bank

“If you are a consumer, and you are shopping rates between lenders, I’d advise you to pick the lender you are most comfortable with, move forward with them and lock your rate in. I have a customer that has been going back and forth between another lender and myself since last week, over a few hundred dollars, and his rate has now gone from 4.125%, with a $1500 credit, to 4.5% with no credit! Find someone you like and that is giving you a competitive offer, and lock it in. Who knows where things ride stops!” –Jason York, VP of VA Operations, Prime Mortgage Lending

“I picked a good week to go on a short vacation. Big Ben has not helped mortgage rates or bond markets at all. Stock market isn’t thrilled either. My advice to any consumer is lock now because rates aren’t coming back down without a total melt down in stocks and some sort of tape bomb from left field. If you were on the fence for a refinance, you can climb down and go home because whatever you were waiting for is never coming back. Purchasers would be wise to lock asap too.” –Mike Owens, Partner, Horizon Financial Inc.

Opinions from Mortgage News Daily

Quit Waiting and Get Your Rate Locked in Today Click Below and Ask Us Any Question

RateLock_bay area mortgage rates

 

About Jason Wheeler - Real Estate & Lending

Jason Wheeler has been a top producing consultant in real estate and finance since 2003. Originating, conventional, government, portfolio and hard money loans throughout California for one of the top mortgage companies in the nation. Jason works directly with homeowners and purchases homes throughout the Bay Area with the purpose of adding value to older outdated homes. IF YOU LIKE OUR CONTENT GO VIP HERE

Leave a Reply

SEO Powered by Platinum SEO from Techblissonline