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It has been a rollercoaster week for Interest rates to say the least. We ended last week with the lowest interest rates in years, setting near low records for the 30 year fixed. This week we are looking at interest rates that have risen at a record pace. The question now becomes what does the consumer do? I have often advised my clients to get their application in when there is this type of volatility in the market. Interest rates are prone to big swings with uncertainty and it is paramount that you complete your application and get your loan officer the documents they’ve requested so they can have your application registered and ready to lock on a big downward swing.

The number one reason most people don't get the lowest rates when they are available is because of the hesitation that rates may get lower. If you intend on waiting to apply when the rates get as low as you like the chances are you're not going to get that rate. Rates rarely hold for more than 24 hours, then they start creeping back up. When they fall, they fall fast to get the applications up and then they slowly rise while the demand increases. Let's face it, who really wants to lend their money at 3% anyway. This is an effort to get more applicants through the door so make sure you're already in and ready to lock when the opportunity presents itself.

Rates are still near record lows and with so many alternative programs available for clients with less than perfect credit or harder to prove income now is the time to see how much borrowing or

purchasing power you have. HomeStart specializes in every type of Real Estate backed loan with the average advisor having over 20 years experience to guide you through the complex process of lending. Go to our secure online website to get your application in today or call us to discuss your lending needs. No matter if you're ready today or next year, we are happy to help you pave the path to a successful transaction thats best for your bottom line.

Jeffrey Towers is the Director of Business Development and Sales with HomeStart Realty and Loans. He has been in the industry for over 25 years and has originated and supervised over 100 Billion dollars in loan production and Real Estate Sales. Jeff Leads a team of seasoned Sales Associates who deliver detailed and dedicated service to the standards you would expect and demanded by HomeStart.

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