Fed Creates Excellent Opportunity For Refinancing Or Buying Minneapolis And Edina Homes
Here is a good, short article from the Wall Street Journal. Yesterday morning one of my lenders called to inform me that mortgage rates were expected to drop all the way down to 5.25%, by 10:15AM.
About 2 hours later, he was proven correct. The amount that rates dropped in a 1-day period, would have taken about 6 months in a ‘traditional’ market of the past. However, in our volatile economic times, this is one of the benefits, or silver linings of market volatility. The market moves up and down very fast these days, and with it go mortgage rates. The mortgage rates follow the bond market. When the bond market (10-year) goes up, usually we see a drop in mortgage rates. 5.25% is an excellent rate, even if rates continue to lower further. Historically speaking, it does not get much better.
For those living in the higher-priced areas of Southwest Minneapolis; Linden Hills and Lynnhurst of the Lake Harriet area, or the Ecco neighborhood of Lake Calhoun, the Kenwood and Lowry Hill neighborhoods of Lake of the Isles, or the Country Club, Sunnyslope and Rolling Green neighborhoods of Edina, you stand to benefit the most, as homes in these areas are usually priced the highest in the Minneapolis and Edina Real Estate market.
Even at the lower price-points of the Fulton, Armitage and Uptown neighborhoods of Southwest Minneapolis, or Richmond Hills, Highlands and Brookview Heights of Edina, you still stand much to gain by refinancing or purchasing.
For new home buyers or investors in Minneapolis or Edina real estate, now is the time! Home prices are low, mortgage rates are low.
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[...] unknown wrote an interesting post today onFed Creates Excellent Opportunity For Minneapolis And Edina Real …Here’s a quick excerptFed Creates Excellent Opportunity For Minneapolis And Edina Real Estate. Here is a good, short article from the Wall Street Journal. Yesterday morning one of my lenders called to inform me that mortgage rates were expected to drop all … [...]
[...] unknown wrote an interesting post today onFed Creates Excellent Opportunity For Minneapolis And Edina Real …Here’s a quick excerptFed Creates Excellent Opportunity For Minneapolis And Edina Real Estate. Here is a good, short article from the Wall Street Journal. Yesterday morning one of my lenders called to inform me that mortgage rates were expected to drop all … [...]
[...] Excerpted from:Fed Sets Off A Rush To Refinance Or Purchase: A-1 Opportunity For Minneapolis Or Edina Homes [...]
[...] unknown wrote an interesting post today onFed Creates Excellent Opportunity For Minneapolis And Edina Real …Here’s a quick excerptFed Creates Excellent Opportunity For Minneapolis And Edina Real Estate. Here is a good, short article from the Wall Street Journal. Yesterday morning one of my lenders called to inform me that mortgage rates were expected to drop all … [...]
[...] unknown wrote an interesting post today onFed Creates Excellent Opportunity For Minneapolis And Edina Real …Here’s a quick excerptFed Creates Excellent Opportunity For Minneapolis And Edina Real Estate. Here is a good, short article from the Wall Street Journal. Yesterday morning one of my lenders called to inform me that mortgage rates were expected to drop all … [...]