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Clovis Real Estate News

November 4th, 2009

How to Tell When Mortgage Rates Will Rise

Wouldn’t it be nice to have crystal ball about now?  You could tell whether the Clovis real market had hit bottom or still has some sinking to do and also whether Clovis mortgage rates are going to increase in the near future like some expect.  While we may not have a crystal ball, we do know of common methods experts use to tell when Clovis mortgage rates are going to increase. 

Mortgage Rates to Increase?

According to Bankrate.com, 30 year fixed mortgage rates are 5.15%.  But they won’t stay that way forever.  Some mortgage experts are predicting mortgage rates to increase in 2010.   So what are the signs that morgtage rates (now at historic lows), are about to go up?

Mark Roth of BusinesWeek.com offers several tips of when interest rates are about to rise:

  • Read the minutes of the Federal Reserve.  The Federal Reserve will comment on its policy and whether inflation or a weaker economy is the greater risk.  Rates tend to rise when inflation becomes more of a risk to the economy.
  • Declining Unemployment.  The unemployment rate is at 9.8%.  If more Americans find jobs, an increase in interest rates is likely.
  • Rising Discount Rate:  The rate the Fed charges banks that borrow from it directly stands at .5%.  If it rises, or the spread between it and the Federal Funds Rate widens, then mortgage rate increases won’t be far behind.

Clovis Mortgage Help

We’re certainly not recommending trying to time the Clovis housing market or mortgage rates.  No one can do that with any certainty.  What you can do, however, is lock in some of the best mortgage rates in history.

mortgage rates historically

As the chart above indicates, these rates won’t last forever.  Why not lock in now?  Whether you’re new to mortgages or an old pro, Mortgage Planner, Kathy Tuck, can help you get the mortgage you need to buy your next home.  Kathy can:

  • Get you pre-approved for a home loan (the 1st step in buying a home).  Get started NOW!
  • Discuss the latest loan programs and lowest Clovis mortgage rates available.
  • Answer all of your home Clovis mortgage or financing questions.

For professional, fast, and super friendly service, give Kathy a call today!

Kathy Tuck
iMortgage, Mortgage Planner
(559) 284-4020 (cell)
(866) 933-7856 (fax)
[email protected]

Visit Kathy’s Website

Clovis Realtors

If you’re thinking about selling or buying a Clovis, CA home let us know.  At Clovis Real Estate we’re Clovis Realtors who specialize in Clovis homes. Browse through our website where you can search all Clovis homes for sale and find a wealth of information on selling or buying a Clovis home. Why not become a client today and let the Clovis Experts help you buy your next Clovis home?

Clovis Real Estate − "The Clovis Home Experts"

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This entry was posted on Wednesday, November 4th, 2009 at 8:15 AM and is filed under Home Buying Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Clovis Real Estate – The Clovis Experts