Tucson AZ Home Loan Info

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Forget Last Minute Christmas Sales: Grab Good Interest Rates While You Can!

While everyone's thinking of the holiday season, interest rates have crept back up.  Six months ago, I predicted that rates could hit 6% by Christmas.  They're not there yet, but the 10 year bond (an indicator of mortgage rate direction) today closed with a yield of 3.72%, the highest it's been since August.  It's headed higher.

Realtors, give your buyers who are fence-sitting a dose of reality.  Would they rather buy a home at today's price with a 5.375% mortgage, or hope that purchase prices decline somewhat, while low mortgage rates evaporate?

China's central banker, Deputy Governor Zhu Min, indicated last week that China is done buying US Treasuries. “When the U.S. has to fund its deficit through the combination of issuing more Treasuries and printing more dollars, it is inevitable that the dollar will continue to weaken,” he said.  That will curb China's appetite for more US debt.

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I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.

NMLS #223495
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
SUNSTREET MORTGAGE llc
Call me
if I can help you or someone you know
with a purchase or refi mortgage in Tucson, or anywhere else in the great state of Arizona.

(520) 349-9090

Comment balloon 3 commentsMike Jones • December 21 2009 11:44PM

Comments

Hi Mile,

You are so right! I've been saying the buyers who bought in 2009 will go down in history as making the best deals of the century!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) over 9 years ago

Dorie,

You may have just hit the nail on the head!  Thanks for being the first to comment.

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) over 9 years ago

Mike - a great post!!! Wishing you a fantastic 2010!!! Be well, my friend!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 9 years ago

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