This marks the sixth straight year that home sales have risen year over year, which many characterize as a sign that the local housing market has ended its rebound and started healthy growth. Meanwhile, in the weeks since the presidential election, mortgage rates in the U.S. have reached an 18-month high (4.08 percent for a 30-year fixed and 3.34 percent for a 15-year fixed) and uncertainty looms in the form of a Federal Reserve short-term interest rate hike expected next week that is expected to bleed into the mortgage market.
- Rates have decreased to near record lows due to the recent housing market crash, which affected both homeowners and mortgage lenders.
- Home buyers who are waiting for mortgage rates to go down again may be waiting in vain, and should hurry up and make a purchase before rates go even higher.
- Mortgage rates are very complicated, they depend on a variety of factors, and forecasting them is close to impossible.
Alliance Credit Counseling
15720 Brixham Hill Avenue Suite 575
Charlotte, NC 28277
(888-995-7856) / (704-341-1010)