Since rates were last down, they have gone up.  30 year fixed rate pricing is now above 6.5% with no-points.  The Fed is meeting later today and a significant cut is likely, so it is safe to expect more movement.   Look for another, more thorough, update after the announcement.  

All buyers should be in close contact with their mortgage people.  Rates are moving so much that from one day to the next, potential monthly payments are changing significantly.

One Response to “Just to be current, rates are now up…”

  1. I definitely will not touch that 30 year fixed until it comes down from that point. Raleigh home prices have just started to fall, so I think around July of 2009 might be the time to buy!

    Jesse W.
    http://www.subprimeblogger.com

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