Interest mortgage quote

question:

How has the mortgage market been impacted by rising interest rates?

Brian Andrews

president, Andrews Commercial Mortgage

"Some people say rates are going through the ceiling. I say they're simply coming out of the cellar. Rates are still at their lowest levels in 30 years. Activity is strong in the commercial market because many business owners, who have been locked into higher interest loans, are just now able to refinance."

Joyce Thrower

mortgage manager, AmSouth Bank

"People are getting nervous, so they're rushing around and comparing rates before they go any higher. Homeowners sense the party may be over."

Danny Montelaro

area president, Union Planters Bank

"Consumers are getting frustrated because they don't understand how rates can rise three times in one day. The rates, however, are still low, so our application volume has not diminished."