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August 19, 2013 at 03:00 AM EDT
Sebonic Financial Comments on Mortgage Rate Flux
PHILADELPHIA, PA, August 19, 2013 /24-7PressRelease/ -- National online mortgage lender Sebonic Financial has structured their business model in such a way that they are able to offer their customers mortgage loans at the lowest rates possible. This is a service that their customers appreciate, especially in a mortgage market where rates are constantly in flux.

A recent report from AOL Real Estate examines the most recent rate fluxes in mortgages. According to Freddie Mac and their Primary Mortgage Market Survey, the average interest rates for mortgages have fallen slightly in the past weeks, now sitting at around 4.37 percent.

However, says the article, experts believe that this drop is not indicative of a continuing trend so much as it is a stabilization of rates after a recent spike. According to the Freddie Mac Survey, interest rates began this year at an average of about 3.34 percent and sat at nearly the same level as recently as May. Experts from all corners of the market are also in agreement that mortgage rates will not be dropping back down to these levels anytime soon.

In other words, mortgage rates have nowhere to go but up from here. However, the article reassures readers that, while the market may be fluctuating, rates as they sit now are still at desirable levels, even if they are not quite as attractive as they have been. Many real estate agents report that, while buyers are not getting quite as much house for their money now as they had been getting earlier, this has not dissuaded serious buyers from postponing their purchasing plans.

"With the recent increase in mortgage rates, we have seen a material shift to purchase money transactions as home buyers realize they may be at the tail end of what has been a protracted low interest rate environment," remarks mortgage lender Sebonic Financial on the situation.

According to the article, at the moment, demand is at a higher level than inventory when it comes to the real estate market. This inventory amount, says the article, is having more of an effect on buying activity than mortgage rates. However, the article adds, rising interest rates are expected to lead to a decrease in demand by pricing out buyers.

The end result of all of this rate fluctuation and speculation, according to the article, is this: people planning on buying a home should do so as soon as possible, but only if they are truly ready to do so. While interest rates will only continue to steadily climb, the article assures home buyers that they are still favorable enough not to warrant sudden home buying panic in those who are not yet ready for it.

"Given the time sensitive nature of a purchase transaction," adds Sebonic Financial, "it is important that consumers consider service levels in addition to interest rate when selecting a lender. Currently Sebonic Financial is consistently closing loans in under 30 days, thus insuring the terms of the purchase contract are met."

ABOUT:

Sebonic Financial is a new consumer-direct lending division of Cardinal Financial Company, a full-service mortgage banking firm operating since 1987. Sebonic began in 2013 as an innovative and technology-focused national online lender. Sebonic is reinventing how people get home loans through a startup culture of new ideas, fast execution and technology, backed by the resources of a well-established and experienced mortgage bank. The result for its customers are low cost, high-quality loans with superior customer service. Sebonic Financial has its headquarters in Charlotte, North Carolina.



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