Rates are holding pretty well this week. they are up from last week, but still competitive. 4.625 is about par and 4.875% is paying almost 2 points back on a 30 year fixed. if you don’t know what it means when I say “paying back” you need to call me – i will help explain it to you. Overall the expectation is that rates will keep rising, but it will be determined by the market and what happens this weekend with Japan and Portugal to see if they create any negative activity on the stock market.
Watch that 4/1 deadline for changes to loan originator compensation and how that will effect costs to you as a borrower. The strategy behind the changes was to protect you, however the unanticipated consequences due to the law interpretation is going to increase the costs to you. There are a couple of lawsuits filed against the federal reserve board, but as of now the changes are slated to go into effect on April 1.
