Saturday, August 19, 2017
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Market Commentary
A written dialogue discussing the effect the Federal Reserve is having on mortgage rates


Steve Lewis
Mortgage Loan Originator
Sierra Pacific Mortgage
Rancho Bernardo Branch

11770 Bernardo Plaza Court #451
San Diego CA 92128

O: 858.225.5604
C: 619.857.9268
F: 858.225.0404
Email:
Team.Lewis@SPMC.com
Website:
www.SteveLewisLoans.com

NMLS# 300313
Branch NMLS# 279118
Company NMLS# 1788

Licensed under the
CA DBO/RMLA #8171148;
Not Licensed in the state of New York.

Equal Housing Lender

 
     
Market Commentary
A written dialogue discussing the effect the Federal Reserve is having on mortgage rates


Steve Lewis
Mortgage Loan Originator
Sierra Pacific Mortgage
Rancho Bernardo Branch

11770 Bernardo Plaza Court #451
San Diego CA 92128

O: 858.225.5604
C: 619.857.9268
F: 858.225.0404
Email:
Team.Lewis@SPMC.com
Website:
www.SteveLewisLoans.com

NMLS# 300313
Branch NMLS# 279118
Company NMLS# 1788

Licensed under the
CA DBO/RMLA #8171148;
Not Licensed in the state of New York.

Equal Housing Lender

These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.

However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

There are also mortgages that combine aspects of fixed and adjustable rate mortgages - starting at a low fixed rate for seven to ten years, for example, then adjusting to market conditions. Ask your mortgage professional about these and other special kinds of mortgages that fit your specific financial situation.

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