As long as I've been doing mortgages ( 21 years and counting ), I have witnessed interest rates climbing after the new year. There is always a rush of new business after the holidays with many new buyers calling to get prequalified to purchase a home. The powers that be from Wall street and Washington DC have come back from their two week vacations, and they are ready to get back down to the business of controlling the housing industry. As the market improves, the interest rates start to rise. This year is a little bit unusual in that the activity has increased, but the interest rates have had an inverse effect. They have dropped further from their already historic lows of 2011. Hopefully they will stay low for the short term so we can see some increase in real estate activity throughout 2012.
Andy Williams
President
Abacus Regional Mortgage
484 695 5972
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