Just a quick note that I discovered some information on rate increase today from a reliable source in the lending Industry. It looks like as predicted, mortgage rates will inch up further tomorrow, another example of tighter lening considerations that have progressed in the first quarter of 2011. It will be interesting to see what the after effects of this increase will be on the real estate front. Cautious buyers seem to be realizing that purchasing in a more balanced market is a safe bet over the long term, especially if you can lock up desireable mortgage terms. This increase should'nt have the same effect as the more substantial mortgage rule changes that initiated earlier this year but nonetheless will probably remain a very important consideration to prospective home buyers and will play a role in sales activity in the summer months. If you are thinking of purchasing anytime soon make your first step visiting with a mortgage professional for terms that would work best for your situation.
Have a great day!