Mortgage rates drop Below 4%

A 30-Yr conforming fixed rate is under 4% today – totally amazing, and 15-yr rates are at 3.25% !!  Last week, I discussed the quantitative easing “(QE2), phase 2 that will probably take place in early November.  But don’t get too excited about the Feds continuing the miracles in the mortgage market.  There will also be, most likely, an accompanying rise in inflation pressures – which will eventually produce higher mortgage rates.  Always hope for lower rates, but don’t bet on them – by advising your borrowers to float their interest rates indefinitely.

 Ginger Sullivan, Anasazi Morgage

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