A Trump Bump – As In Interest Rates

Long term rates have risen and are predicted to rise a little further through next year.  When long term treasury rates rise, so do mortgage rates.  Speculation about a boost in economic growth, higher inflation rates and international trade wars are fueling this rise.

What does this mean for you?  Nothing if you have locked in a rate below 4% for your home loan.  If you are looking for a home or did not lock in a rate for your refinance, expect your interest rate to be higher than quotes you had a week ago.

Is this speculation premature? Perhaps, economists caution their forecasts are tentative.  The marketplace does not like uncertainty so expect a bumpy ride until a clearer picture of a Trump administration and its policies are evident.

As for forecasts by economists, if you want four opinions about the economy, ask three economists.home-mortgage-rates

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