Category: Interest Rates

RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE

  Are you in the market to purchase a home, investment or commercial property?   Visit the Counsel Mortgage Group website. We provide daily rates and we are happy to discuss lending specific to your needs. We offer a variety of products and services, ask us how we can assist you today. https://counselmortgagegroup.com/todays-rates/   Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60dbo43873 Copyright © 2021 Counsel Mortgage Group®, LLC.

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NOW IS THE TIME TO LOCK IN AN INTEREST RATE

When is the best time to lock an interest rate? I get asked this question often as everyone wants the lowest rate. Interest rates, like stocks, change daily; it is hard to predict whether the rate will go up or down. It is best to see what your payment is at the current rate, and take a look at what the payment would be if the rate increases or decreases by ⅛. Interest rates are quantified by ⅛ s, such as 3 1/8%, 3 1/4%, etc. You will then be able to calculate the risk. Example: if a difference in...

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RATE ENVIRONMENT: UP OR DOWN?

Right now, we are in a decreasing interest rate environment. Is there somewhere you can look to determine if interest rates are going up or down? We look to the interest rate on the US 10-year Treasury Note as a leading indicator for mortgage rates. As the 10-year rate goes up, mortgage rates tend to go up. Similarly, as the 10-year rate goes down, mortgage rates tend to go down. The rate can change daily, or it can change within the day. We are made aware of impending rate changes by following the intraday trading of the 10-year Note. If...

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