Renae Stucki Realtor has been watching the mortgage rate and there’s a lot of data accumulating this week that’s creating speculation as to which direction the rate will go.

Under the new leadership of Janet Yellen, the FED seems more willing to make moves.  This creates a certain degree of speculation because up to this point, the FED has been fairly predictable.

Improving economic news was tempered by the geopolitical pressures regarding Russia.  With new sanctions in place, there’s been little impact on the Russian market, but the threat of even more powerful sanctions are still scaring investors away.

This week will also see the release of some important economic data points.  Although none of them individually should move the rate, the combination of them all has the potential to send it one way or the other.  We could see some larger moves in mortgage pricing before the week is out.

How does this impact us?  Well the rate going up will lessen the value of your dollar to buy a home.  Your money won’t get you as much.  The rate going down will allow your dollar to go further.  But it’s a risky bet.  There’s no way to know for certain which way it’s going to go.  

My advice is lock in a rate now.  If it goes down, give up the rate you had and try to get the lower one.  If it goes up, you’ve locked in a lower rate and you won’t have to worry if you can close on time.

Either way, contact Renae today and let her help you make the decision that will stretch the value of your money the furthest.