December 2013 Monthly Mortgage Update

Welcome to my monthly mortgage update. I wanted to tell you a little bit about what you can expect from real estate in the next couple of months. While I don't have a crystal ball, I can look at the information and take an educated guess.

Interest rates have been phenomenally low. Are they going to stay that way? The job report numbers came in very good this month, which is bad news for interest rates.

Another big effect on interest rates is the upcoming Federal Reserve meeting on Dec. 18th. During this meeting they will decide whether to continue backing mortgage loans which has artificially lowered interest rates. If they decide to back off, you can expect interest rates to increase.

What does this mean for you? You may not qualify for the amount you would have before or your payment may be higher. Look to buy now. If you have any questions, please give me a call. Thanks for watching.