Philadelphia Mortgage Update March 19, 2012
Philadelphia Mortgage Update March 19, 2012
Here are the latest comments and rate sheet from Jason Griesser:
Interest rates have come up out of the 3’s on conventional financing and interest rates across the board have risen this week. The main reason is the Federal Reserve announced Tuesday afternoon that economic activity has picked up and continues to improve. This news reduced the likelihood that the Federal Reserve would take measures to buy mortgage backed securities which would help keep interest rates low for the foreseeable future. The announcement caused interest rates to spike .25% higher on all programs and later in the week the markets calmed some and ended up .125% on almost all programs. The jumbo and ARM rates were not as impacted as much as the conventional fixed rate and FHA programs.
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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
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
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