St Louis Mortgage Blog

St Louis Home Mortgage and Refinancing News -

If you have been watching the financial news for the past 4 weeks, you've probably seen mortgage rates rise to it's highest level since the first week of November.

Bankrate.com reported that "mortgage rates are advancing along with rates and yields on other long-term debt.  For example, the yield on the 10-year U.S. Treasury is up more than 40 basis points compared to four weeks ago. Over the same period, the benchmark 30-year fixed-rate mortgage has risen 24 basis points."

Surprisingly, home resales seemed to have surged in November although prices were down.  To the contrary, new home sales plummeted as reported by news blog StLouisRefinancingGroup.com most recently.

Most analysts readily agree that fewer homeowners are purchasing now due to the home buyer's tax credit deadline being extended till April 2010.  As expected, mortgage brokers and lenders are now preparing for the large influx of applications after the new year.

But how is this good news for home shoppers?  Since fewer consumers are applying for St. Louis refinancing loans at this particular time and even fewer homeowners are purchasing new homes, mortgage brokers have more time on their hands to deliver even more personalized service.

Those wanting to enter the home market should take this into consideration as lenders will be much busier as thousands will try to take full advantage of the home buyer's tax credit marathon by April 2010.

Liberty Lending Consultants are available to help guide you in the right direction by selecting the best home mortgage or refinancing loan to help meet your financial goals.  Call Liberty Lending at 314-698-4092 and ask for Steve or Doug.