Mortgage interest rates are expected to rise………..I guess this is a ‘good news, bad news’ type of thing.
The good news is the economy is healthy and growing. It is needing less assistance of the Federal Reserve with very low borrowing
The bad news is that means mortgage interest rates are expected to rise.
According to Market Watch traders on the federal-funds futures market ramped up their bets for one more rate hike this year to above 50%.
What does all this mean for you? It means that is going to be a bit more expensive to borrow money. It also means that you MAY qualify for less of a mortgage. If buying a home is on your plans for the near future, it may be advisable to pursue those plans sooner rather than later.
Chart is for illustrative purposes only and assumes a borrower with very good credit. Rates and APRs are subject to change without notice. Subject to credit approval.
Contact me about Selling or Buying Your Home in Massachusetts
Bobbie Files is a Real Estate agent at SUCCESS Real Estate, covering the Bristol, Plymouth and Norfolk County areas