"Ron has amazing insight into the financial and real estate markets."
doug waldman
Welcome to the world of home loans! Here's a quick snapshot of what's happening:
- Mortgage rates, or the cost of borrowing money for a house, are expected to stay about the same as they were yesterday.
- The Federal Reserve (the Fed), our central bank, is expected to increase a key interest rate next month. If people start to believe the Fed will increase rates again this year, mortgage rates will slowly go up.
- If you're closing on a house soon, it might be a good idea to lock in your mortgage rate now. If you're not closing for a while, you can wait, but don't expect rates to go down.
For a more detailed explanation, check out the full report. It breaks down these points and more, helping you understand the current state of home loans.
- Mortgage rates, or the cost of borrowing money for a house, are expected to stay about the same as they were yesterday.
- The Federal Reserve (the Fed), our central bank, is expected to increase a key interest rate next month. If people start to believe the Fed will increase rates again this year, mortgage rates will slowly go up.
- If you're closing on a house soon, it might be a good idea to lock in your mortgage rate now. If you're not closing for a while, you can wait, but don't expect rates to go down.
For a more detailed explanation, check out the full report. It breaks down these points and more, helping you understand the current state of home loans.