mortgage rates

Rates are determined and driven by Mortgage Backed Securities... When a mortgage is originated and it conforms to the guidelines, it is then sold to a clearing house (such as Fannie Mae, Freddie Mac).. Where the mortgages are blocked, and then securities are sold against them.. Just like you would buy stock in Wal-Mart or Exxon, you can buy mortgage securities... Just like any stock... up is good, down is bad.. And it's the fluctuation of up and down that drives rates up or down... Because mortgage securities are supposed to be a "Safer" investment than say stocks, when wall street is having a bad day... the investors sell off their higher risk company stocks and flock to safer investments such as treasury bills and mortgage backed securities.. This is why usually when wall street has a bad day, it's usually a good day for MBS.. and vise versa... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

mortgage rates are based on what the banks are borrowing funds from , also the libor index, etc you used to be able to predict, if the stock market was low, rates would be higher, and vice verse.. but now they do not change that much, and the govt has made the rates basically universal thru out, so rates are not what you need to be concerned with, i tell people, it really doesnt matter what the rate is, can you live with the payment??? linda yourloanpartnerforlife@live.com