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Do mortgage fall following a presidential election? Is it advisable to wait?

by gordon660 from Salt Lake City, Utah. Aug 26th 2016 Reply


Linda Miller (Linda Miller)
#2 ranked lender in Utah - 562 contributions

No, rates are affected more by the markets and economic data. The economic data lately has been better than expected. The last jobs report was better than expected. Today the Federal Reserve Chair, Janet Yellen, and Vice Chair Stanley Fischer both said the case has strengthened for the Fed to raise the Fed Rate. While the Fed Rate does not directly affect mortgage interest rates it does influence it. Most economic experts think the Fed will raise their rate in September or December. I personally think rates are good right now and the outlook is that rates will go up towards the end of the year. If you have more questions, you can give me a call at 801.550.1222 OR email me at linda@lindamillergroup.com. All the best... Linda Miller

Aug 26th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

Highly unlikely.. Rates are affected by financial news.. more than current events.. Also, when rates go bad, they go bad fast and over a short period of time.. but when rates improve it's slow and over a much longer period of time.. holding out for a "maybe" 1/8th better rate could cost you 1/4 to 1/2 higher rate.. definitely not worth holding out.. it could cost you much more than you could save.. and besides. rates are at a 60 year low right now.. so there's how much more can they go down? Who knows.. I say, don't wait.. go get your new home now... lock in your rate as soon as you can and don't look back. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Aug 26th 2016
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Scott Fix (ScottFix)
#1325 ranked lender in California - 184 contributions

Gordon - Rates are great. Go for it now if you are ready for your home search!

Aug 27th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

There is no correlation between days of the week, time of year, or presidential elections for how mortgage rates move.

Aug 30th 2016
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