As of 6/24/2013 Update from one of the top lenders
Good Morning, Just wanted to update everyone on some key factors in the market right now. When writing contracts, please remember to get updated preapproval letters. Rates are GOING UP and they are going UP rapidly. Any loans that are new construction and are not 45 days out from completion are affected as well and we will be working diligently to give updates on these customer statuses as well. The market jump happened drastically on Friday with rates changing 3 times that day ; the rates are unpredictable and we are all adjusting to the market movement. A month ago rates were averaging 3.5%, today you will see the rates in the mid to upper 4’s. This is the highest shift we have seen in the past 3 years and the only shift with no brakes. Today rates are not out yet but we won’t see a stop in the increase. Customers will be affected by these changes as we will see increases in monthly mortgage payments affecting preapprovals. Thanks in advance.
Author:Christopher Miguez Phone: 318-452-7143 Dated: June 24th 2013 Views: 875 About Christopher: ...
Louis Williams is the CEO for The Williams Team which now has 14 members total. His Team consists of four Listing Specialist, five Buyer Specialists, two Transaction Coordinators, Director of Sales, Listing Manager and Listing Assistant. The Williams Team has had nearly 100 Million Dollars in gross sales over the past nine years. Louis' Real Estate Group is among the top 1/2% of Realtors in the Greater New Orleans Area. He has also been awarded the prestigious NABOR Platinum Award for the top 1/2% of Realtors for the past five years and named the #1 Real Estate Group in the Area 2014.
Keller Williams Realty Services 985.727.7168 Independently Owned and Operated Licensed in La Mandeville LA