Mortgage Rates climbed again, as retail sales figures came in much higher than expected. Keep in mind that signs of an improving economy usually send rates upward, as a strong economy could trigger inflation and Fed "tightening" (rate increases). Retail sales figures are very important because our economy is so driven by consumer spending, and retail sales are a great indicator of consumer spending. Rates today are hovering around 4.25% with one point.
I want to point out that the election is over and my prediction that rates would stay low until that time was accurate. Now, with signs of an improving economy its only a matter of time before they go up. There will not be a better time to purchase a house than now!
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