Why world tensions are making mortgages cheaper
Posted: Thu Apr 20, 2017 7:40 am
Consumer Affairs - 4/20/2017 - Mark Huffman - The election of Donald Trump coincided with a gradual rise in mortgage rates, which had been at near record-low levels for much of 2016. But in recent weeks, rates have started trending down again. In part, you can thank rising tensions in the Middle East and the Korean Peninsula. According to The Motley Fool, a financial website, the average 30-year fixed-rate mortgage rate dropped to 3.87% to start the third week of April. That's down from 4.19% just a month ago. While it is true that the Federal Reserve has hiked the Federal Funds Rate twice since December, that's not what affects mortgage rates. The Fed's rate makes borrowing more expensive for banks, but not necessarily for home buyers. Read more @ https://www.consumeraffairs.com/news/wh ... 42017.html