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Posts Tagged "Mortgage Bankers Association"


  • Do You Like Low Interest Rates?

    May 9, 2017 /
    Pickett Street Properties Team /

    Interest Rates Unchanged After The Fed's Wednesday Meeting After its meeting this Wednesday, the Fed voted to leave interest rates unchanged, keeping its benchmark rates at 0.75-1.00%. The decision was a response to the economy’s slow .7% growth in the year’s first quarter. Much of this slowing growth can be attributed to the transition period following the presidential election, so the Fed remains optimistic for future economic growth. In that case, two more rate increases are expected by the end of the year. The next rate hike is expected to occur in June as long as the economy continues to grow, while many experts expect a second increase to occur in September. Overall, the decision seems to have had a very slight indirect effect on mortgage rates. As of Thursday, the average 30-year FRM was down about 1 basis point, hovering around 4.02%, while the average 15-year ARM and remained around 3.27%. And, though rates are always changing, many experts don’t expect them to increase dramatically between now until the end of the year. Many economists expect the 30-year FRM to fall between 4.2-4.5% at the end of 2017. For some, these rates might seem to be way too high.…Read more