Everybody. It’s Ken at the Capitol Mortgage Group. If you’ve been in the market the last couple of weeks for a mortgage, whether buying or refinancing your home, you’ve probably seen a huge swing in mortgage quotes. Why is that? Why have rates kind of gone all over the place? A lot has to do with the overall complexities of the mortgage-backed securities market and what’s happening right now in the financial markets. But a lot also has to do with what we call lender capacity. Just a couple of weeks ago we saw the all-time low mortgage rates, and lenders were overwhelmed with new loan applications coming in. So, to kind of slow down the volume so they could catch up on the current loan pipeline, they raised the rates to chase away business for little while.
That’s why it’s so important to work with an independent mortgage broker like Capitol Mortgage Group, because I shop, not with one bank, but with over 55 different banks to get you the best deal. So, sure, I’ve seen some lenders raise their rates up a little bit to catch up, but I still have several lenders whose rates are near the all-time low, who could still close you in two weeks or less.
So give me a call at (804) 362-7600. Check me out at CapitolMortgageGroup.com, where you can price your own loan. Capitol Mortgage Group, a better way for your home loan