Interest Rates continue to rise and fall with the market. We all want the market to recover but the sad reality is that rates will increase with the good times to come. In the mean time we cheer for reasonable rates when buying Miami Beach real estate or refinancing and pray daily for climbing values of stocks in our investment portfolios. The likelihood is that both of these events will not occur simultaneously.
Wall Street is back in full swing this week after the long holiday weekend. Bonds continue to remain below a tough resistance level, while Stocks are getting off to a sluggish start due to concerns for the overall global economic recovery.
If you are facing a decision of whether to lock your rate or float with the hopes of better days to come…. I recommend floating as we see how Bonds and Stocks continue to react to important technical factors and the news of the day, but be prepared to change direction if necessary.”
Rates
Conventional….5.375%
FHA / VA……….5.5%
Jumbo 5/1 ARM….5%
Brian Scott
