Do not wait too long! Mortgage Rates Will Rise

Mortgage Rates Will Rise-David Hall Mortgage

Many predict this week to be one of the biggest year for financial markets; For homeowners and new home buyers, this is a frightening mortgage rate roller coaster ride.

People who entered and trading the financial markets look at three major events: Tuesday, Wednesday, Thursday and Friday's meeting October jobs report this packed a lot of market drivers in a single week.

But let us focus on your mortgage …

1. Tuesday's election will move your mortgage rate.Interest rates on loans have been kept artificially low prices in months.These low mortgage rates have been the result of direct government action; The Fed unequalled buy large quantities of Mortgage securities and Treasury securities, legislature passes and distribution of very large aggressive incentive funding, regulatory actions, mortgage loans, and a host of other measures to manage the economy, the mortgage market and housing market to recover.

All the indicators are that it is to get to screeching halt.Republicans are expected to take control of the House of representatives (guys and gals who use taxpayer money), and they are messages loud and clear that they are pulling tight purse strings.

That definitely send mortgage rates soaring.

2. Wednesday's Federal Reserve meeting will allow mortgage rates stay low for a short period of time.The choice is so, say precisely mortgage rates long-term fate. Fed meeting on Wednesday, however, will probably buy a card a few weeks to get and lock your mortgage current low rates.

There is a plan a foot to buy a larger amount of Treasury securities, but experts agree that this will only have a temporary fix to keep interest rates low.

Take advantage of this window of opportunity; it is about to slam shut down for good.

3. Friday October jobs report is anybody's guess.But one thing is for sure … not enough people went back to work to signal an economic upturn. how the markets will interpret this news is another unknown, allowing volatility – uncertainty in your mortgage rate.

My advice: If you want to buy a home or refinance your current mortgage – do it as soon as possible! mortgage rates are higher. heading to not KICKING yourself for missing this option later.

Give us a call 800-701-HALL or get your mortgage quote right now.