The move by the federal government to be the conservator of Fannie Mae and Freddie Mac has caused mortgage rates to tumble and should help the Reno mortgage and Reno home market.

Currently, I’m able to offer rates back in the 5% range for a Reno home mortgage, something I haven’t been able to do in a number of weeks.

The reason for the tumble is that the bail-out by the government eased the worries many investors had about the credit crunch.  These same investors, with newfound confidence, moved their money back into mortgage backed securities, causing rates to drop.

The problem is, once the investors get an idea of just how much this rescue will cost taxpayers – current estimates range from $25 billion to $300 billion or more – there is a good possibility Treasury yields will go up, dragging mortgage rates with them.

So while none of us know what the future holds, I do know that it would be a great time to take advantage of these rates to buy a Reno, Sparks Nv. home.  As I’ve said before and will say again for those who are new to the blog, any mortgage rate below 7% is incredibly low.  And now I’ll add that anything below 6% is ridiculously low.

Take advantage of the Reno Home Market.  Tahe advantage of the ridiculosly low rates.  And never hesitate to call or email me with questions regarding a mortgage in the Reno, Sparks, Carson City, Tahoe area.
Stephanie Clemo Hanna

Simplicity – Communication – Honesty

 -SCH: not just my initials, but what I promise in your home loan experience-  

775 762 9114

shanna@platinum1st.com

Filed under: LOAN INFORMATION, LOCAL MARKET