Local Mortgage Update – December 2022

Published On: December 7, 2022153 words0.8 min read

Based upon the recent performance of the 10 Yr. Treasury bonds, the “market” believes the Fed’s will begin to slow the pace of rate increases, the index fell in November from a high of 4.15% to 3.5%. Mortgage rates are closely tied to Treasury rates so mortgage rates have fallen; from the highs near 7.25%~ to 6.25% for a 30 yr. fixed for many borrowers with excellent credit. I believe we’re over the hump and mortgage rates will fall back into the 5.5% range by Summer of next year. Should you or a loved one find it necessary to borrower at today’s current rates we’d like to help, we are offering a $1,500 credit toward the cost to refinance within the next 24 months.

For tailored advice and the latest insights specific to your needs, don’t hesitate to contact Summit Mortgage. Summit can help you navigate your mortgage options and find the best fit for your financial future.

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