Interest rates on the rise now that the election is over...

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Interest rates on the rise now that the election is over...

Robert AdamsBusiness Member
Real Estate Broker · Henderson, NV · Member since 2009 · 1k+ posts · 373 votes
I can't wait for this wave of political back and forth to be over. It is exhausting reading through all the posts and threads and status updates etc...

On another note what is everyone's thoughts on interest rates in the near future and in 2017 now that the election is over.

I am expecting rates to go up gradually and consitantly in Dec 2016 and in the near future. They have been so low for so long and I believe the main reason they had not gone up previously is because of the election.

Raising rates will lower peoples' buying power and buyers will be approved for less of a home for the same income.

From what I am hearing the bond market has taken a big hit since the election and rates have already gone up and are expected to go up again in Dec. Home buyers looking to buy in the near future should lock their rates before further increases hit.

What are your thoughts?


http://www.usnews.com/news/articles/2016-11-08/will-the-next-president-impact-the-federal-reserves-interest-rate-hikes

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  • Brandon L.
    Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
    9y

    These are the projections for the future. I take them with a grain of salt, but it's inevitable that the rates will increase dramatically at some point. 

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  • P.J. Bremner
    Rental Property Investor · Claremont, CA · Member since 2015 · 292 posts · 374 votes
    9y

    From what Janet Yellen was saying, it doesn't sound like they will be changing the rates by much if they do.  She said that the Trump election should not alter the course they have been on for the last few years.  Here is a great article from NPR that outlines that:

    http://www.npr.org/sections/thetwo-way/2016/11/02/...

    I think the rates will have to go up eventually, but I think 2017 will see only minor changes if any.  I wouldn't be too concerned :)

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    9y

    Interest rates are up about 2/3 of a percent in the last week and a half. 2 days ago it was half a percent. It certainly hasn't been gradual as the bond market continues to sell off. I'm hoping the sell off slows, but even if it does, the yield curve between the 10 year tbond and mortgage rates could increase.

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