Last Week in Review: What the Market Is Saying
Solid economic numbers continue to be reported. We are seeing a historically strong labor market, rising wages, high consumer and business confidence, and an overall boost in housing. Bonds hate good news and there is simply too much good news to go around at the moment.Home loan rates continue to hover right near three-year lows. There are many "smart" folks on Wall Street who say rates are going to push even lower at some point...and they may be right. But what if they're wrong? What if rates have bottomed for the foreseeable future?
Yes, locking a home loan right here would be wise.
Here are three reasons why rates may have bottomed -- at least for now:
So, what would push rates to historically low levels? It would likely take some very bad news like an escalation of the coronavirus outbreak or possibly something worse.
Bottom line: the U.S. economy is performing very well. Rates are near historic lows and the markets are telling us this may be about as good as things get -- for now. So, if you, your family, friends, or clients are considering a home loan, now is a terrific time to lock in at incredible rates.
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