Mortgage Rate Trend Index Unchanged: Sept. 27, 2017
Will rates go up, down or remain unchanged?
Mortgage Loan Officer, Grande Financial, Maumee, OH
Nancy Vanden Houton
CFA, Senior Research Analyst, Stone & McCarthy Research Associates, New York, New York
Vice president of capital markets, CMG Financial, San Ramon, California
Although mortgage rates felt a little increase after last week’s Fed meeting, they have remained relatively flat since that time. The Fed did keep a final rate increase on the table for 2017 and stated a target of at least 3 rate hikes for 2018. August saw the housing market take a small tumble as all three sales figures (pending, new, and existing) fell, both month over month and year over year. Most are pointing to an issue of supply but increasing home prices have also put a wrench in mortgage transactions.