Why do interest rates go up and down? It is a function of factors that occur daily within our economic system. The stock market, the bond market, the federal deficit and the supply and demand for MBS (mortgage backed securities). These securities usually purchased by Wall Street to sell to investors are now mostly purchased by the Federal Reserve. Low interest rates early in 2009 have caused an oversupply of MBS due to the new refinances and rates have been trending up since the 3rd week of May.
PHH Mortgage has a solution though. Prepurchase Rate Protection (before you find a home) and Standard Rate Protection (after you find a home). If rates go up you win and if rates go down you win. Prepurchase Rate Protection is Unique to PHH Mortgage and not available anywhere else.
To learn more about this incredible program call or email me now or click on one of the links below.