Here is an excerpt from the Bankrate website about what's happening with home mortgage interest rates:
"Rate: 6.49 percent (30-year fixed) Average points: 0.36
Mortgage rates rose a tiny amount after falling five weeks in a row. Rates didn't move much because there has been little economic news of note in the past two weeks. That is set to change later in the week, with the second-quarter GDP report coming Wednesday and the August employment report arriving Friday. The bond markets will scrutinize the employment report for signs that the economy is weakening or that it is unexpectedly strong. The average 30-year fixed rate rose to 6.49 percent from 6.48 percent. The average 15-year fixed, which is a popular option for refinancing, rose 1 basis point, to 6.2 percent. A basis point is one-hundredth of a percentage point. On bigger loans, the average jumbo 30-year fell to 6.73 percent from 6.74 percent. Adjustable-rate mortgages fell. The popular 5/1 ARM dropped 2 basis points to 6.22, while the one-year ARM slipped 2 basis points to 5.98 percent".

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I like Bankrate as a source of current information on mortgage rates, but they also have articles on just about anything involving money.  Bankrate.com is only one source of information and it's good to shop, but this is definitely a site worth bookmarking and checking in on occasionally.  From a customer service point of view, I almost always prefer to have my clients work with a local Wenatchee area lender (versus internet lender).  In my experience, the rates are competitive... and transactions generally close faster and smoother.


For answers to your real estate questions contact:

Carol@TopPropertiesWenatchee.com



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