Wednesday, June 10, 2009

Interest Rates - Outer Banks, NC

Interest Rates continue to increase today and I have pasted below a link to a great article explaining what is going on and why they are increasing. Fannie Mae has issued three rate increases today and 30 Year Fixed Rates are up to 5.75% with 1 point or 6% with no points this afternoon. I will keep you posted, but my prediction is that rates will continue to increase until the FED meeting on June 23rd and we will see if the government decided to step-in again and lower rates or if they think the economy has recovered enough to allow rates to go back to their natural levels in the 6% range.

http://www.bloomberg.com/apps/news?pid=20601009&sid=axq3ToKyUXnE&refer=bond

Shane Cook
Senior Mortgage Specialist
Office (800) 256-7887, ext. 222
Fax (866) 669-5871

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