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Interest Rate Update | February 12, 2015



We recently had the chance to catch up with our local lender, Jason Ames of Homestreet Bank, to talk about everybody’s favorite subject these days: interest rates. No matter if you’re buying or refinancing – now is a great time to take advantage of the incredible rates. To get a better perspective of “the big picture,” Jason shared some of his insights with us:

How it works: Mortgage rates are tied to mortgage backed bonds which are considered a safe investment due to their guaranteed rate of return.

When did the latest shift start: Mortgage interest rates started a positive downward trend back in Mid-November 2014 due to economic concerns overseas and a flight to quality from investor dollars. Rates continued to dip during the holiday season and the beginning of the year until they reached 18 month lows on Jan. 19th where you could find a 30 yr. fixed loan as low as 3.5% on a home purchase. Rates have come back off their lows over the last month and are up about .375%-.500% since that time.

What does this mean to the everyday consumer? That means you can still borrower money for 30 years at 3.875%-4.0% on your home purchase or refinance keeping you near historic lows. The current rate forecast is for rates to remain below 4.5% for the next 3-6 months and that is why spring is a great time to buy or refinance your home if you haven’t already done so.

Always feel free to call Jason at Homestreet Bank if you have financing questions or would like to gather more information. He is one of the most reputable lenders in Boise Valley and delivers excellent customer service. Jason can be reached at email jason.ames@homestreet.com or ph. 208.489.7298.

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