Can Mortgage Rates Get Any Lower?

Santa Rosa, CA-While everyone knows mortgage rates are very low, these bonds yields will not produce lower mortgage rates. Find a mortgage rate quote in Sonoma County.
By: Scott Sheldon
 
Sept. 11, 2011 - PRLog -- While everyone knows mortgage rates are very low, these bonds yields will not produce lower mortgage rates. Top mortgage loan officer Scott Sheldon of Sonoma County Mortgages disagrees with most experts.

"Bank are not making profits right now, so if continual capital flows into the bond market, banks will likely if they haven't already, put a floor on their lowest fixed mortgages" says Sheldon. People have to remember it must make sense for the bank. The secondary mortgage market is very still risk adverse. The extra cost of this risk is the floor that banks will likely place on new loan originations.

"If you are looking for a competitive mortgage rate on purchase or refinance, and there is a net tangible benefit, lock it" says Sheldon. Consumers today are looking at rates in low 4's with zero points on 30 year fixed rates and 15 year fixed rates are in the mid to high 3's with zero points. This presents an incredible time for consumers to never have to refinance again. These rates also allow buyers to afford more home, while remaining conservative.

At Sonoma County Mortgages, Sheldon has a Mortgage Rate Quote option for a free loan quote, so consumers can mortgage shop more easily. "The best advice I can provide to consumers is to get a rate quote, talk with a loan officer, get qualified, and lock in. On case by case scenario it would even be prudent to consider paying discount points" says Sheldon.

A six-year mortgage loan officer, Sheldon specializes in helping folks obtain mortgage
financing in the Sonoma County, California market  as well as throughout California. Sheldon is a consumer advocate is represented by a direct mortgage lender. His site offers cutting edge mortgage information ranging from rate quotes, to understanding how to apply for a mortgage, as well a current market trends. Visit http://www.sonomacountymortgages.com for the most accurate in-depth information on the mortgage market today.

# # #

Sonoma County Mortgages offers lowest mortgage rates with competitive home loan programs. Loans offered are all FHA Loans, Home Path Loans, USDA Loans, VA Loans, Jumbo loans to $2million and standard fixed rates.
End
Source:Scott Sheldon
Email:***@sonomacountymortgages.com Email Verified
Zip:95404
Tags:Sonoma County, Low Mortgage Rates, Rate Quote
Industry:Real Estate, Mortgage, Loans
Location:Santa Rosa - California - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Sonoma County Mortgages News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share