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Mortgage lenders Raleigh market update

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Mortgage lenders Raleigh – There is no doubt that the world has seen its share of conflicts in 2014. We have seen major conflicts in areas such as Ukraine, Gaza, Iraq, Syria, Libya. With the turmoil the world markets have been pretty solid with our stock market being no exception. By mid-July, the Dow and the S&P were again in record territory. As always, this effects mortgage rates in Raleigh and mortgage lenders Raleigh.

The Ukrainian crisis has occupied the headlines for the good part of 2014. Yet, the downing of a civilian airliner has brought the conflict to a center stage as many countries have implemented economic sanctions against Russia because of it’s actions in Ukraine. Russia has retaliated with it’s own sanctions and now we have a possible economic cold war in the making. The markets have reacted negatively to these escalating developments. Mortgage lenders Raleigh are on lookout for the effects of those developments on mortgage rates in Raleigh. Mortgage companies Raleigh and mortgage brokers realize that in such economic and political landscape mortgage rates can be volatile.

Experts have indicated that the stock market is due for a correction, as it has been almost three years since the last real correction of at least 10%. Each time we have had a pullback in the past 3 years, the markets have rebounded quickly and this past week we saw at least a moderate rebound. The question in if the Russian crisis escalates, could we be in for a real correction?
However, there is some positive news which has arisen from the stock market’s recent international malaise. Long-term rates and oil prices have both headed lower. At a time when we are hearing positive news with regard to the economic recovery, lower rates and lower oil prices may serve to hasten economic growth. If economic growth accelerates, that is good news for stocks — but possibly only if rates stay low. Mortgage rates Raleigh will possibly experience some kind of correction. Mortgage lenders Raleigh will need to reassess the impact of this on future mortgage applications.

The Mortgage Markets in Raleigh – mortgage brokers Raleigh
•Fixed mortgage rates in Raleigh fell slightly in the past week with rates staying within the same range they have been for almost the past three months.
•Freddie Mac announced that for the week ending August 14, 30-year fixed mortgage rates in Raleigh fell slightly to 4.12% from 4.14% the week before.
•The average for 15-year mortgage rate in Raleigh loans ticked down to 3.24%.
•Adjustables were also stable in the past week, with the average for one-year adjustables up slightly to 2.36% and five-year adjustables decreasing marginally to 2.97%.
•A year ago 30-year fixed mortgage rates in Raleigh were at 4.40%.
•Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans in Raleigh were down slightly amid a week of light economic reports. Of the few releases, retail sales were virtually unchanged in July after a 0.2% increase in June, ending five months of increases. Excluding motor vehicles and parts, retail sales were up 0.1% last month.”

Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes. Mortgage lenders Raleigh, mortgage companies Raleigh.

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Edyta Rhodes has written 25 articles on Service 1st Mortgage

I am an experienced mortgage broker, Raleigh-based with access to top national lenders. I have over 10 years experience, so I know how to design your mortage loan to fit your overall financial picture. I guarantee to find the best mortgage rate for you. You can find out more about me on Google+ Or you can email me at erhodes@nc.rr.com

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