Interest Rates are on the Rise

May 30, 2013 by · Leave a Comment 

Keep Calm Call RealtorBen Morton, Sr. Vice-President at Caliber Funding in Austin, reports a major swing in interest rates over the last 2 weeks. “Things have happened so fast; 200 bps movement in just over a week. The Fed has kept rates artificially low since early 2009 by purchasing mortgage backed securities. Bernanke has just announced that the government will no longer be making such supplements.”
Rates today are as follows:

CONFORMING
30 Yr Fixed     4.125%, 0 pts.
15 Yr Fixed     3.375%, 0 pts.
7 Yr ARM        3.500%, 0 pts.

JUMBO
30 Yr Fixed     4.625%, 0 pts.
15 Yr Fixed     3.875%, 0 pts.
7 Yr ARM        3.500%, 0 pts.

All of the benchmark signs that the government watches point to economic recovery. As the economy continues to improve, watch for interest rates to increase.

If you’ve been waiting to purchase a home, now is the time. Check out the real estate statistics for your neighborhood.

We are ready to help you locate that special property!

Laura Duggan, West Austin Properties, 512-750-2425, laura@westaustin.com or Gail Boston, Partner, 512-626-5348, gail@westaustin.com
 

 

About Laura

Laura is a third generation native of Austin who grew up in Tarry Town in Central Austin. She is the owner and broker of West Austin Properties and has been selling real estate in the Austin area since 1979. Laura is married to the love of her life, Brad, and they have two grown daughters. Together, they love to explore all of the fun spots Austin has to offer.