Posted on in Mortgage Rates
It’s February 24th and the J. Berman Group is gearing up for a busier than usual March. Two factors will likely push consumers to make some decisions on home financing sooner rather than later. The first factor is the dramatic change in compensation for mortgage originators effective April 1st, 2011. This regulation will undoubtedly raise costs on home buyers and will result in higher interest rates being charged by all originators upon consumers. The federal government has effectively eliminated much of the benefit of shopping for a mortgage. The second factor is the current unrest in the Middle East. A shift to safety by investors that have been riding the stock market is likely as folks are getting nervous about global events. Certainly Libya is a concern but Bahrain looms much larger as a potential powder keg for widespread chaos. These two events should create a short-term refinancing and purchase opportunity for US homeowners. I wouldn’t be shocked to see […]
by jberman