Northwest Indiana Home Mortgage Update

• Yes, the rumors you heard that mortgage rates went up over the last few days are true!

Now let's all take a deep breath and realize that rates could also settle back down near 5% in the short term ... over the long haul the rates will go up. If you are a consumer reading today, this means you and your real estate professional and mortgage consultant need to be talking quite a bit. If you're a real estate professional advising customers, keep a careful eye on the markets.

Some leading indicators:

• When unemployment drops, and it will eventually, rates will go up
• When the stock market drops or corrects we tend to get solid interest rate improvements
• When the economy grows, and it has started to do so, mortgage rates and all rates will go up as the market begins to worry about inflation

As always let me know if you need assistance today: 219-465-8352