Are Lower Interest Rates Just Around The Corner? Recent Industry Chatter Suggest That It Is!
By Jim Poole, Zero Down, USDA Purchase Loans, FHA 203(K) Rehab & VA Streamline Loans
Are Lower Interest Rates Just Around The Corner? There is a lot of chatter in my circles that suggest we may be entering a period where mortgage rates fall enough again to spur another run on refinances. The trend has been something taking shape over the last 6 weeks but the excitement came among a couple of pricing improvement's made by lenders yesterday. The last time we were able to offer rates as low as 3.25% for a fixed Rate Loan (05/27/2011) was back in the summer of 2009 when a surge of refinance applications over whelmed the industry due to employee shortages. This time people in the know are noticing a behind the scenes hiring drive by many of the big Banks and Lenders. This suggest they might be ready to lax rates enough to make affordability even more attractive to home owner...