Market update

The market has seen some historic changes in the last 10 days. After the Fed meeting on June 19th, the rates increased at an alarming rate, with the highest increase in the last 26 years. This past week, they have stabled a little, but not anywhere near where they were a few weeks back. The market is very volatile, and even the smallest news, can have large impacts on rates. One thing to consider when talking to your mortgage broker is, if they offer a free float down policy. That means, if the rates improve during your refi or purchase, can they get you the lower rate, at no cost.

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