February 1st, 2013 10:59 AM by Preston Ware
Here is another of my previous videos that is worth a look back. In the video I explain how West Palm Beach home prices are trending upwards which is true. But since the video interest rates have experienced a 1/2 point spike.
As a rule if we have a good day on the stock market it is a bad day for interest rates and vice versa. Since the election the Dow Jones has spiked from 13,000 to 14,000 having an adverse effect on interest rates.
Where I was quoting 3.25% on an FHA deal 3 months ago now I am quoting 3.625% and up. the same with Fannie Mae pricing which has jumnped from 3.5% to 3.875%.