Another Big Story: An Incredible Move in Albuquerque’s Mortgage Interest Rates

by | Jul 1, 2022 | Albuquerque Real Estate Talk | 0 comments

Another Big Story: An Incredible Move in Albuquerque’s Mortgage Interest Rates

Transcript Snippet: “

Tego:

You know, the other big story this week, Tracy, I, I, I was interest rates. You know, we had this incredible move in mortgage interest rates from let’s say, you know, co couple months ago, if we go back, let me look at the chart here. When was this? This was it really started to move at the beginning of the year in January, you know, starting in January mortgage rates were, you know, 3% plus or minus, maybe three and a quarter. And we moved all the way up to over almost almost 6%, five and five in, I heard 5.6 5.6685. And that’s again, when we talk, I want to, you wanna specify that, right?

Tracy:

That means you’ve got good credit.

Tego:

Exactly. These, these,

Tracy:

Those rates are for people with good credit.

Tego:

These are people with, you know, seven 40 gold golden BA balance sheets and seven 40 plus credit scores.

Tego:

For sure. And, and but just in the last couple days, we’ve come not couple days this week. Well, I guess it’s about been about a week. We’ve seen things drop about a quarter or so maybe a half in certain cases. So it’s kind of interesting that that mortgage rates have started to pull back a little bit and that follows exactly what the 10 year treasury bond has been doing, which it went way up almost to 3%. Now it’s backed down under. So we’ll see, we’ll see, you know, it’s mortgage rates are always gonna be what they are and when you’re ready to buy, you’re ready to buy.