Raleigh Home Loan Predications, Raleigh Home Loan Expectations, Raleigh Home Loan Guidance (a.k.a. PEG) – “The Weekly Martini”
The temperatures outside are getting warmer here in the Raleigh & Cary, NC area (a.k.a. the Triangle)…the Raleigh real estate market & the Cary real estate real estate market is still warm & getting WARMER…Raleigh home loan rates and Cary home loan rates are so VERY HOT that you need to wear gloves – without the gloves you may burn your hands – I love “<3 “when a rate starts with a 4 & some of the home loan applications I took last week for the hybrid programs started with a 2! You know what else is boiling hot?
INFLATION!
Here is the Kevin Martini, your trusted mortgage banker, break down. Folks, year over year inflation is almost touching 7% @ the producers level. So it is clear there is inflation on the wholesale level however it appears it is not being passed on a consumer level yet. It will & if it is not then we will be looking at slowing economic growth.
You see, today based on the numbers that were released last week – businesses are absorbing their increased costs & not passing it on to the consumer…sooner or later they must pass it on to the consumer by raising prices…that raising of prices on a consumer level will boost consumer inflation. Inflation is the nemesis to mortgage rates & know that when inflation rears it head Raleigh home loan rates & Cary home loan rates move higher as fast as a puma.
At the end of the day, get your sun glasses on because summer is rapidly approaching and you will also need them on because the economy is getting brighter & warmer. If you have been thinking of purchasing a home or refinancing your current one call (919.858.0023) or email (Kevin@KevinMartini.com) to learn more about how you can benefit or please forward this post via the social media buttons on the bottom so perhaps the information can help one of your friends.
Now this week will be provide some big news for housing…we will get some info on housing starts, building permits & existing home sales. This week we will find if the 200 day moving average will act as a ceiling for Raleigh home loan rates…I fear that will be the case & if my thesis is correct, now will officially be the best time to buy! Remember if Cary home loan ratesmove just 1% upward, then your buying power is reduced by 10% — YIKES!
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