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Fournier Law Blog

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What’s In Store for Mortgage Rates and the Spring Market?

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Despite the Federal Reserve rate increase late last year, the 30 Year Mortgage rate has continued to decrease.  It has been predicted, in fact, rates could “head lower into record territory”.  Nonetheless, Fannie Mae has just reported its worst monthly home purchase sentiment in 18 months.

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A recent article on CNBC.com’s Realty Check outlines some of the reasons home sales have been on the decline so far this spring.  For example, many buyers and sellers do not believe that this is the best time to purchase or sell a home.  Consumers are concerned about the economy and job security; to add, mortgage credit availability has tightened.

The release of key domestic economic data this week could have an impact on the direction of the mortgage rates.

To learn more, read the entire article.

Image Credit:  Svilen Milev

 

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