With a lifetime of experience in real estate investing, home building, consulting and working as a  Valparaiso home mortgage lender anyone would have a hard time finding a more knowledgeable guide to mortgages and real estate. More than that no mortgage lender in northwest Indiana will be more fun to work with. If you building, buying, or refinancing spend 20 minutes with Steve you’ll come away laughing and amazed at how much Steve knows about  your project and equally amazed at how many people in the industry he knows. Having all that experience in your corner can make a potentially stressful experience enjoyable. Little example of Steve’s insight into northwest Indiana mortgage rates and you’ll understand why Steve is the lender to trust.

What’s affecting the rates right now?

  • Sales of homes in the latter part of 2009 were greatly affected by the rush to obtain the tax credit that originally was intended to run out by the end of November. That tax credit is not back in affect and will extend into April. But in the meantime there was a bit of a rush at the end of last year. I expect that due to this mirage affect, there will be a restatement of sales in December downward a bit. This is positive news for rates.
  • The substantial amount of money being borrowed by the Federal Government to cover their historic and unsustainable deficits is putting a lot of pressure on both rates and inflation. So far rates have risen from 4.5% 30 days ago to where there are now at just over 5%. I expect rates to continue a slow increase month by month as recession problems fade, jobs begin to increase, and there is more focus on inflation. This is negative news for rates.
  • Yesterday rates were actually better than expected, see I don’t have a crystal ball, so there’s always the strong possibility that today we get a correction day. See the 10 Year Treasury Chart yesterday, where rates did come down a bit, slightly yesterday.
  • As always, if you want a quick personal update at 10:00 a.m. this morning when rates come out please email me and I’ll personally send you a quick update when they are in my hands.