Linda Talks Mortgages

You are noticing rates going up and up.  The reason for all of this is that we continue to have bad news added to our already bad news on the economy.  There is some disagreement between the leading economists as to whether the economy is recovering or not.  Stay tuned to the market to see what happens.  I wish I had a crystal ball!!! But….what makes sense is that the Real Estate industry and market is very important to the recovery of our economy.  If rates continue to increase, there will be less activity therefore the recovery will not take place as quickly as expected.  We are hoping for the rates to go back down for a bit so borrowers can take advantage of programs that The President has put in place to refinance and purchase the properties that have gone to foreclosure.  If the rates continue many people will not refinance or qualify for a purchase.  I will keep you posted… Stay tuned.  Please add your comments.