The Week in Review:
We saw very little change in home mortgage interest rates last week. Friday’s employment report was weak, but most discounted the report due to an unusually cold winter.
What to Expect:
Most economists called for higher mortgage rates in 2014; however, rates have moved lower so far this year. Has the projection changed?
So far this year, the combination of domestic lackluster economic reports along economic and currency weakness in various overseas countries have helped move interest rates lower.
Janet Yellen delivered her first public remarks as the new Fed Chairman today and stated that financial market turmoil would not pose a major risk to the US economic outlook. She also stated that she will continue to scale back stimulus in measured steps through the year.
Most economists expect home loan rates to continue the climb upwards this year. In the financial markets, nothing moves in a straight line. Lock in and enjoy the dip in rates.
For transactions closing in:
Next 15 Days: Lock
Next 30+ Days: Lock
Now that the winter weather has passed in Atlanta yet again, you may find the urge to start shopping for a new home. Click here to start your Smyrna Vinings home search or contact your local Smyrna Vinings Realtor to guide you through the process.