Here’s an email I got from Jason Griesser of Trident Mortgage in Society Hill, Philadelphia today which included the weekly mortgage interest rate sheet. Feel free to reach out to Jason if you have any mortgage questions or are interested in obtaining a preapproval.
We’ve seen ARM rates rise slightly higher in the last few weeks, but fixed rate loans remain at historical lows. The fears in Europe continue to weigh on the markets keeping rates low in addition to a consumer sentiment report that came in at the lowest level in almost two years – and with employment not improving & all the media’s incessant negativity this should not have been a surprise. The politicizing of the debt ceiling being raised will also heat up even more so in the coming two weeks as well if a deal does not get done. It is a shame our politicians cannot seem to get anything done these days without having their backs completely up against the wall. This will continue to cause concerns across the globe and the threats from the rating agencies on US debt will continue. (the real shame of it is we actually blew through the ceiling in May per the Treasury secretary and congress has raised this “ceiling” TEN times in the last ten years – tragic in the world of responsible finance) I wonder if any of us called our credit card companies and let them know we need our credit limit raised because we could not pay our bill what that answer would be?
Jason F. Griesser, CMB
Sr. Mortgage Consultant
Trident Mortgage Company, Lp
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106