Defying the Federal Reserve- Mortgage Rates are Falling!
Today's article in the Charleston Post and Courier Newspaper validates what we have been communicating to our Clients. Mortgage rates are going down!
According to the article, when the Federal Reserve raised a key short-term interest rate in December, for the first time since 2006, there were worries that home loans would become more costly this year and depress the housing market.
“Mortgage rates will gradually rise,” a CNN Money report said on Dec. 16.
Then, 2016 began with a historic January stock market plunge, and here we are with mortgage loan rates that are lower now than they were for much of last summer. For homebuyers and mortgage refinancers, that’s great news. Continue reading........