Interest rate Roller Coaster

What a Crazy month!

in the past 30 days we have had one of the most confused interest rate environments I have seen in the past 20 years.  About 4 weeks ago we bottomed out at levels we have not seen since July of 2003... Keep in mind that 2003 was a 40 year low in interest rates and one Wednesday morning it was the lowest I have ever seen for a 30 year fixed rate mortgage. 

It was short lived, and that low only lasted about 6 hours. Since then rates have been bouncing up and holding for a week, only to settle back down a bit and then bounce yet again.  Last week was the biggest weekly bounce the markets have seen in 10 years, but this week we have already seen the interest rate dust cloud begin to settle and rates are improving a bit.

 Keep things in perspective, Rates are still near the historical lows, There is more than enough inventory to choose from at very attractive prices.... What a great time to buy a home!

 Have a great week.

Robert Rauf, Countrywide home loans (Countrywide Bank FSB) (732) 740-0175 Robert_Rauf@countrywide.com