Mortgage rates reach seven-year high in a housing market reckoning
invite response
2018 May 17, 5:27pm 1,005 views 1 comment
by Patrick ➕follow (55) 💰tip ignore
https://www.marketwatch.com/story/mortgage-rates-reach-seven-year-high-in-a-housing-market-reckoning-2018-05-17
Comments 1 - 1 of 1 Search these comments
1
Strategist
2018 May 17, 7:57pm
Strategist
2018 May 17, 7:57pm
Patrick says
Probably at just about 5% if you were to lock in your rates now. Give it a few weeks and people get used to it. If they expect rates to immediately go higher, they will be even more desperate to find a home and lock in their rates.
Rates for home loans powered to the highest since 2011, setting up a fresh test for a housing market already strained by lean supply and surging prices.
The 30-year fixed-rate mortgage averaged 4.61% in the week ending May 17, mortgage finance provider Freddie Mac said Thursday. That was a 6 basis point jump, and marked the highest for the popular product since May, 2011. ...
“The prospect of rates approaching 5% could begin to hit the psyche of some prospective buyers,” Freddie Chief Economist Sam Khater said.
Probably at just about 5% if you were to lock in your rates now. Give it a few weeks and people get used to it. If they expect rates to immediately go higher, they will be even more desperate to find a home and lock in their rates.
patrick.net
An Antidote to Corporate Media
1,190,034 comments by 13,851 users - AD, Ceffer, josephinebrennan, krc, UkraineIsTotallyFucked online now