The FNMA bond market has taken a few hits over the past few days. This is what drives interest rates on mortgages. Bonds go down - rates go up. The big news will be the jobs reports that will come out on Friday.
If you are thinking about purchasing that vacation home or investment property on the Outer Banks - now may be the time. As interest rates begin to rise, your purchasing power decreases. We will see what happens on Friday.
