Knoxville Home Buyers With Mortgage Rates, You Can’t Shop For Good Luck

Getting a good mortgage rate is often a matter of good luckKnoxville Area Real Estate Buyers Do Your Homework…..

After a series of increases starting April 30, mortgage rates finally took a dip Monday.  It was a welcome surprise for Knoxville  home buyers that went under contract over the weekend.

Knoxville Area Homeowners Shop Around For Not Only The Best Rates But The Lowest Closing Cost….. If You Are Going to Refinance…

Versus mortgage rates on Friday afternoon, many Knoxville  lenders were already showing lower rates Monday morning before a late-afternoon rate sheet reprice even lower.

The drop in rates lowered annual mortgage payments by roughly $180 per $100,000 borrowed.

Rate dips like this aren’t expected, of course, bringing us to the one of the most important axioms of shopping for a mortgage rate: You can’t shop for good luck. This is because mortgage rates are inherently unpredictable.

  • On some days, rates are higher
  • On some days, rates are lower
  • On some days, rates are unchanged

Occasionally, there are days when rates are all three.

Monday’s rate dip, though — while sharp — may not last.  Early this morning, markets were pressuring mortgage rates to rise and lenders are often quick to pass rate hikes on to consumers.

With a little bit of luck, you’ll get your rate locked in before changes for the worse.

But  don’t leave things to chance pick a professional to help you with your mortgage needs I would suggest Patty Francisco with MIG. You can reach her at 865-392-5803 or email her at patty.francisco@migonline.com Patty does a wonderful job and you will like working with her for all your mortgage needs.

If you are in the market to buy a Knoxville Area Home consider my Preferred Partner Program. It will make you Knoxville Home Search easier and less stressful and best of all it is FREE to you as a home buyer. If you would like more details about the program please contact me at 865-696-9002 or Rick@TheBigOrangePress.com

Please feel free to leave me a comment below…. I want to know what you think and let me know if you have any questions… Go ahead let me know what you think..

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