Here’s a current market update on behalf of Briggs Cline of Buckhead Home Loans:

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As expected, mortgage rates were mostly unchanged last week as we rolled into the Christmas holiday. This end-of-year run up in mortgage rates has some people nervous that we are finally going to see rates climbing back to higher levels over the next few months. While we are seeing signs of a strengthening economy, we are yet to see enough economic steam being generated to actually heat up inflationary pressures to a level that would push mortgage rates too much higher in the near term. Ultimately, we will need to have both the housing and labor markets in significantly better shape before we see strong, ongoing economic growth in the United States.

This week is a fairly light week in terms of economic news, with only one major report due. Tuesday’s Consumer Confidence report is expected to show another small uptick. If this comes to pass, we might see mortgage rates moving slightly upward. However, if financial markets remain fairly calm this week, we could see rates move just slightly downward as we head into the New Year.

Rates for December 23, 2010:

• 30 Year Fixed Conventional – 4.81%
• 15 Year Fixed Conventional – 4.15%
• 1 Year ARM – 3.40%

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*Rates change daily and restrictions do apply to all types of loans! Consult with your real estate agent and / or loan officer for more information specifically to you and your loan.

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Briggs S. Cline | President | Buckhead Home Loans
Phone: (404) 303-7411 | Cell: (404) 396-6872 |  bcline[at]buckheadhomeloans.com

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Do you need a real estate specialist to help you? Call Sue Fessler: (404) 228-2691 or email: sfessler[at]morrisandraper.com.

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