This week mortgage rates edged higher as investors reacted to the Federal Reserve meeting held last week. The commentary outcome from the meeting has set a precedent that key economic indicators such as inflation are likely to rise in the coming months, as the economy continues its recovery post-pandemic.
The current conditions has led investors to forecast that interest rates will remain ‘high-for-longer’, affecting the borrowing costs of homebuyers who are seeking mortgages. As a result, short-term mortgage rates increased slightly this week, although mortgage products remain historically low.
-Fed meeting determined ‘higher-for-longer’ conditions
-Shorter-term mortgage rates have increased slightly
-Mortgage products remain historically low
-Investors are reacting to post-pandemic economic conditions
-Key economic indicators such as inflation are expected to rise
You can read this full article at: https://www.housingwire.com/articles/mortgage-rates-surge-to-highest-level-since-2000/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.