This section is devoted to the current interest rate environment. If you would like a current rate quote on a variety of loan programs that will suit your needs, please call me at my office, toll free at 1-888-466-3411. Check back here for the general direction of the market. Below you see several market indices. If you note that the rates are higher on these indicators, your available rate will probably be higher. On the other hand, if rates here seem to be in a downward trend your rate could be lower. If interest rates are on the rise, you will probably want to lock in a rate as soon as possible. Falling rates will give you more time to make a decision.

One note regarding the 30 year bond: Most people think that mortgages are tied or move with the thirty year bond, also known as the bellweather bond. Even though mortgage rates tend to follow the same direction as this market, mortgages and mortgage backed securities are traded on their own market. The truer indicator is the 10 year bond, and I have included it here. From an investment security standpoint, the mortgage backed security traditionally performs like the 10 year bond. The truest indicator is the Freddie Mac net yield or the FNMA net yield, remembering that those are for fixed rates and do not include any lender fees like origination or processing.