Mortgage Rates Are Slipping After a Rapid Rise
The recent rise in mortgage rates has been a cause for alarm among home buyers, but relief may finally be here in the form of lower mortgage rates. Following a rapid rise in rates last month, rates have been steadily dropping since the beginning of the year.
While the rate of the decline has varied, the overall direction is a welcome change for those in the market for a new home. When the upward trend began to slow last week, refinancing applications also slowed. This may be due to the fact that mortgage rates are still higher than they were at the start of 2019, making it less appealing to refinance existing mortgages.
The drop in mortgage rates is due to increased political uncertainty and strong economic indicators. The sharp decline in the yields on U.S. government debt could signal investors’ fears of a slowing economy, and mortgage rates tend to follow Treasury yields in these circum-stances.
It is unclear at this point whether the downward trend in mortgage rates will continue. However, the recent drop is encouraging for those who need to secure new financing for their home purchases.
For home buyers and refinancers hoping to take advantage of this time of lowered mortgage rates, now is the best time to act. Although the future is uncertain, it is likely that mortgage rates will rise again soon, so now is the time to lock in a low rate while you can. Experts advise borrowers to shop around for the best rate and consider using a mortgage broker to help them compare rates.
For many home buyers, the relief of lower mortgage rates comes at the perfect time. With the uncertainty in the global economy, the drop in interest rates provides a much-needed respite for those looking to secure financing for a home purchase.
Mortgages are an important factor in the decision to buy a home, and the recent decrease in interest rates provides buyers with more options and better terms. It is important, however, that buyers carefully consider their options before acting. Taking the time to shop around for the best rate and to use a mortgage broker can help buyers secure the best terms and avoid making financial mistakes.
Mortgage Rates Are Slipping After a Rapid Rise
The recent rise in mortgage rates has been a cause for alarm among home buyers, but relief may finally be here in the form of lower mortgage rates. Following a rapid rise in rates last month, rates have been steadily dropping since the beginning of the year.
While the rate of the decline has varied, the overall direction is a welcome change for those in the market for a new home. When the upward trend began to slow last week, refinancing applications also slowed. This may be due to the fact that mortgage rates are still higher than they were at the start of 2019, making it less appealing to refinance existing mortgages.
The drop in mortgage rates is due to increased political uncertainty and strong economic indicators. The sharp decline in the yields on U.S. government debt could signal investors’ fears of a slowing economy, and mortgage rates tend to follow Treasury yields in these circum-stances.
It is unclear at this point whether the downward trend in mortgage rates will continue. However, the recent drop is encouraging for those who need to secure new financing for their home purchases.
For home buyers and refinancers hoping to take advantage of this time of lowered mortgage rates, now is the best time to act. Although the future is uncertain, it is likely that mortgage rates will rise again soon, so now is the time to lock in a low rate while you can. Experts advise borrowers to shop around for the best rate and consider using a mortgage broker to help them compare rates.
For many home buyers, the relief of lower mortgage rates comes at the perfect time. With the uncertainty in the global economy, the drop in interest rates provides a much-needed respite for those looking to secure financing for a home purchase.
Mortgages are an important factor in the decision to buy a home, and the recent decrease in interest rates provides buyers with more options and better terms. It is important, however, that buyers carefully consider their options before acting. Taking the time to shop around for the best rate and to use a mortgage broker can help buyers secure the best terms and avoid making financial mistakes.
