Home Loan Rates Are Staying Low
Home loan rates have hit the best levels of 2019 last month. Rate hikes will most likely not occur for most, if not all, of 2019 based on suggestion from the Fed Statement. The lack of rate hikes is also based on the analysis of the economies abroad slowing down and the muted inflation occurring.
Home loan rates staying low is a complete turn around from just a few months ago when Fed Chair Powell was forecasting up to 3 rate hikes this year.
With rates staying low, those who own stocks are feeling wealthier as their shares are hitting a multi-month high which is good for housing. Last month’s Jobs Report showed a growth in job creations and wages which are fundamental in having a healthy housing market.
Source: Jordan Reed with Carrington Mortgage Services