Submitted by Shawn Headlee
Hello all,
 
Hope you all had a great weekend!! Interest rates have been on the rise the last 3 weeks. They are at a 1 year high, which may not seem like much, but they have gone up every day but 2 over the last 3 weeks. This is a sign that they may keep going up or go down. :) I say this in jest because no matter what anyone tells you, they don’t really know what rates are going to do in the future. Of course we can all guess, but that is all it is. I am guessing from the information that I have read, that rates will continue to go up and level off in the 7% range for a 30 year fixed rate mortgage. I feel this way due to the billions of dollar in foreign money that is getting out of our bond market and looking for better places to invest. This selling of our bond’s drives the price of the bonds down and the yields up, in turn, raising mortgage rates.
 
Have a great week!!