Check out this week’s Trident Mortgage update that features the best rates of 2014.
My last few updates have conveyed the improving interest rate environment we’ve experienced the last few weeks. This weekend’s rate sheet now marks the most favorable rate sheet we’ve seen thus far in 2014. It is a combination of all the global uncertainty and conflict, domestic economic conditions and the Federal Reserve continuing their commitment to keeping rates low until there is clear evidence of improvement in the labor market. While we’ve seen the real estate market and general economic conditions recover well since the Great Recession, the labor market has lagged behind. A wise man who has been in real estate finance for many years once told me real estate is often driven by consumer confidence and jobs. Consumer confidence has been on the rise for a good period of time, but like the Federal Reserve’s monetary policy, the real estate market is being held back nationally because of slow wage growth and sluggish hiring in many markets. We’re lucky to not have experienced this locally in our resilient Philadelphia markets, but it will still be nice to see all regions come full circle in this post-Recession era. As long as this uncertainty continues our low mortgage rates should continue right along with it; the true silver lining of a recovering economy.Jason F. Griesser, CMB
Sr. Mortgage Consultant
Ph: 215-440-2073 | Fx: 610-650-5611