RATES RATES RATES…..
Freddie Mac released today, 12/9/2010 that Mortgage rates haven risen for the fourth consecutive week,
- 30-year fixed-rate is at 4.61% for the week ending Dec. 9, up from 4.46% last week.
- current rate is almost level with one year ago rate of 4.81%.
“After Europe made strides in its debt situation, investors left the security of U.S. Treasury debtcausing bond yields to rise and mortgage rates along with them,” said Freddie Mac Chief Economist Frank Nothaft.
The increase in Treasury yields also coincided with President Obama’s announcement extending the Bush-era tax cuts for high-income taxpayers for two more years in exchange for extending federal unemployment insurance for the long-term jobless and payroll tax cuts for one year.
Taken together, those moves are expected to increase the government’s deficit spending.
Don’t hesitate, today’s rates are at an all time low. I know you’ve heard it all before, blah blah blah. Seriously though, take advantage of it! We may not see these rates again.
The increase in Treasury yields also coincided with President Obama’s announcement extending the Bush-era tax cuts for high-income taxpayers for two more years in exchange for extending federal unemployment insurance for the long-term jobless and payroll tax cuts for one year.
Taken together, those moves are expected to increase the government’s deficit spending.
Don’t hesitate, today’s rates are at an all time low. I know you’ve heard it all before, blah blah blah. Seriously though, take advantage of it! We may not see these rates again.
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