Primemax Mortgage Group

Interest Rates....Up or Down

October 20th, 2019 12:42 AM by Regina Rickles, NMLS# 222362

To Lock or Not To Lock........       

Locking or floating over this weekend should be based on what you feel the outcome of the UK vote on the Brexit deal.   If UK is unable to pass the deal through their house, then i think rates will react positively Monday morning which makes floating a good call.  If UK passes the Brexit deal, rates will come under pressure which means locking to is the safe call.  Regardless rates are the best they have been since 2011.  

  • 2019 has been the best year for mortgage rates since 2011.  Big, long-lasting improvements such as this one are increasingly susceptible to bounces/corrections

  • Fed policy and the US/China trade war have been key players.  Major updates on either front could cause a volatile reaction in rates

  • The Fed and the bond market (which dictates rates) will be watching economic data closely, both at home and abroad, as well as trade war updates. The stronger the data and trade relations, the more rates could rise, while weaker data and trade wars will lead to new long-term lows.  
Posted by Regina Rickles, NMLS# 222362 on October 20th, 2019 12:42 AM

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