Mortgage rates are mixed after the Federal Reserve increased the fed funds rate yesterday. Overall, average mortgage rates have been moving lower the past three months and should continue moving lower in the coming days. 30 year conforming mortgage rates are now averaging 4.61 percent, an increase from an average 30 year rate of 4.55 percent.
· Fed Rate Hike Impact on Mortgage Rates. What we need to know is that, from the current effectively-zero interest rate, the fed funds rate will continue to rise over the next two years such that by the time of the mid-term elections in 2018, the fed fund rate will have reached 2.5 percent or a bit higher.
This larger rise in mortgage rates is a sign that mortgage lenders expect the inflation rate to settle at a higher level over the next few years. Meanwhile, the Fed is expected to keep raising the federal funds rate to capture and hold the inflation rate near its target of 2%.
Mortgage after bankruptcy: How soon can you buy a home? mortgage rates today, November 2, plus lock recommendations When Should you Lock in Your Rate? For most people, it makes sense to first sign a purchase agreement on a specific property before trying to lock in a mortgage rate. Then, find a mortgage loan with a good interest rate (do your homework online to look at available rates) and consider asking your lender to (in writing) lock in the rate. But.Loans for older manufactured housing (how to buy a mobile home) Heads up, homeowners: Mortgage rates hit lowest point since November! Mortgage Solutions Network – Posts | Facebook – Heads up, homeowners: Mortgage rates hit lowest point since november! mortgage rates today have hit their lowest point since last year’s election. If you bought a home after November 2016, you may have a great opportunity to refinance today.