Chicago, IL (PRWEB) February 04, 2014
Mortgage rates climbed today giving pause to its recent volatility. However, Peoples Home Equity was not surprised by the rebound. Mortgage rates have been rebounding after two consecutive days of declines for the past month. While daily rate movements are interest the lender encourages readers to look at the overall picture and how attractive the market is now for buying a home.
As shown on MortgageNewsDaily.com, the daily mortgage rate for the past 30 days has been positive after two consecutive declines for all loan types. The driving force behind mortgage rates moving lower has been declining equity markets. Readers should understand that the correlation between rates and equities is not always hand in hand. Yes, bonds typically rally when equities decline causing rates to decline as well. However, with the Federal Reserve unwinding its quantitative easing program it may become more evident that rates will not fall far. Friday’s employment report will give rates a reason to move one way or another. If unemployment declines, rates are expected to rise, if unemployment rises rates may drop further.
Peoples Home Equity has been suggesting to prospective loan applicants to apply for a mortgage for months. The lender understands why some individuals may be waiting for a better mortgage rate comparable to 2012 levels. Yes, Individuals who waited were able to secure a better rate now. However, the chance of this occurring again is very low given expected Fed policy in an expanding economy. Readers should appreciate the recent decline in rates over the past month and seize the opportunity to apply for a home loan now before rates increase again and property prices rise further!
Please contact Peoples Home Equity loan officer today for mortgage details at: (855)-897-0300