Great News for the Market
In a recent email from Paula Lamberti, mortgage broker for Bank of America, I learned housing starts are up higher than expected. Building permits have also increased more than 11%.
The graph and great news above reveal that the housing sector’s recovery is gaining momentum.
“What does all of this mean for home loan rates? The continued drama in Europe should benefit our bond markets (and thus home loan rates), as investors continue to see our bonds as a safe haven for their money. However, if inflation continues to heat up, bonds and home loan rates could worsen as a result. The bottom line is that home loan rates remain near historic lows, making now a great time to consider a home purchase or refinance.”
For more information on this increase contact me.