Market Update

 

Mortgage Rates are Still Low, but not for Long

 
Rates flat after Fed announcement, but future hikes suggest upward movement
 

As expected, the Fed raised interest rates for the first and only time this year at their December meeting, but it had little immediate effect on mortgage rates. However, the forecast for 2017 was altered to include three rate hikes instead of two, and the changing presidency spells uncertainty in the transitional months ahead, meaning historically low mortgage rates may be a distant memory within the coming year. Those looking to buy new homes or refinance should consider locking in a low rate in the midst of this volatility.

If you were holding off on buying a home, you may want to reconsider.  Call Susan Penn EWM Realtor at 954-557-5993.