Many think that because the Federal Reserve raised the Federal Funds rate by .25% yesterday that it means interest rates went up by .25%. That is not the case! Mortgage rates actually went down almost .25%.
No one knows but at some point the Fed will have to sell off mortgage-backed securities and that will increase interest rates.
Foreclosures, short sales, and bankruptcies are set to fall off credit files of 2.5 million consumers between June 2016 and June 2017, according to analysis from Experian.
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A jumbo loan is any loan over $417,000. We now allow as little as 5% down depending on the loan amount. Call us today to find out more – (954) 903-7256!