Mohawk Valley Real Estate News

You still have time to lock your rate before they rise! 

"Anyone hoping to buy a home in the near future likely has some time before they'll see rates climb. Still they should ask their bank or mortgage broker about the process for locking in a rate. Mortgage rates have been at historic lows in recent months, but fixed-rate mortgages are typically directly tied to the yield on 10-year Treasury bonds. Higher mortgage rates would follow any increase in the Treasury yield. But so far it appears that Treasury yields won't rise simply as a result of the downgrade."

Read more: http://www.miamiherald.com/2011/08/08/2350322_us-debt-downgrade-could-mean-rate.html#storylink=addthis#ixzz1UULYkvWX