Last Week in Review: Four Reasons Why Rates are on the Rise This Week
This past week, home loan rates ticked a bit higher from their best levels in U.S. history. More importantly, this increase in rates may be the start of a trend in higher rates.
Here’s four reasons why rates rose and why they may continue to do so:
The good news: Any uptick in rates in the near-term may be limited for two reasons. The Fed continues to purchase Bonds on a daily basis, thereby holding yields down, and economies are reopening slowly, so rates should increase slowly over time as well.
Bottom line: With rates at all-time lows, if you can secure a home loan to either refinance or purchase a home, now is a great time.
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