Silver-lining in every cloud

Although a number of American homeowners will be disappointed to have seen the change over the last week in the recent run of reducing home mortgage lending rates, there’s a silver-lining in every dark cloud and American homeowners are not exempt here.  On the one hand, the record numbers of American homeowners were watching the rate falls and, when needed, were jumping ship out of 5-year adjustable rate mortgage rates and into 30 and 15-year fixed rate mortgage rates.  As such, the number of American homeowners directly affected by this week’s eight basis point rise in 5-year ARMs would have been significantly lower than would otherwise have been the case a month or so ago.  On the other hand, a number of industry analysts believe this week’s rise in Atlanta mortgage rates is merely a correction of the recent run of good reductions in Atlanta mortgage rates and that further falls in Atlanta mortgage rates may well happen before the year is out.