As of this writing, 30 year conventional mortgage interest rates were hovering just above 4% which is about the same as the rate in January of 2017. Just 6 months ago, rates were close to a historic low at 3.42%. Make no mistake, interest rates are still at the low end of the historic scale, but I believe times are about to change… The predicted 3-4% GDP growth, the tight labor market along with the 3 projected rate increases by the Federal Reserve for both 2018 & 2019 indicate to me that mortgage rates will follow suit and continue to rise through 2019. Following is the Freddie Mac 10 year chart of Mortgage rates.
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