DFW Mortgage Interest Rates Fall Since Peaking on June 12, 2009
Posted by Mike Askins on Friday, July 3rd, 2009 at 2:39pm.Just when you through the inmates were running the asylum, mortgage rates stopped their sudden rise on June 12 and have been slowly dropping ever since. As rates drop, buyers have once again engaged the North Texas real estate market. It was widely reported that scores of refi's were cancelled as a result of the interest rate increases that essentially happened over a 14 day period starting in very late may and new home traffic dropped way off in multiple locations.
It appears that the banks just don't get it and they will do everything in their power to continue to destablize the economy in search of a phony buck on Friday. Raising rates in this present economy is like drilling a hole in the bottom of your lifeboat. Regardless of bailouts, these private banking institutions are hell bent on profits even if it has a negative effect on the public's well being.
I'll say it again the privately controlled 'for private profit' Federal Reserve has to go.
RATES STILL NEED TO FALL FURTHER!
The so called economic recover at this point in time is locked into lower interest rates prevailing for a long time to come. With so many U.S. manufacturing jobs now outsourced not to mention broad job losses in nearly all economic sectors, there is simply no way rates can rise without jeopardizing the economic recovery. So far inflation has not been a factor and may not be a factor for the foreseeable future.
Here are the latest Mortgage Interest Rate Snapshots for the Dallas Area for 30 Year and 15 Year Loans
So please stay tuned.
Happy House Hunting! Keep us in mind for all your Collin County real estate needs, because when it comes to saving you money, that is what we do best!
214-727-3686 - Cell
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