November 3rd, 2016
I am sure most of you agree that we can't wait to see normal commercials again. Wow! Can't take much more. In regards to the mortgage industry, the election may play a big part in interest rates. It is safe to say that rates have been held down for a long time and many would say too long. Rates will go up, but the question is when. I gave up predicting, and good thing because I would have bet they were going up 3 years ago. Always make your decisions based on the belief they are going up next month. If it makes sense to do a loan, do it. If it doesn't, then wait. This is the only prediction I would give short term. Long term, they will go up. I just can't tell you when.
To start November rates are up a bit. About 1/8% across the board