North Dakota Mortgage News

Mortgage Rates on the Rise?

April 6th, 2017 4:24 PM by Austin Ketterling

We all know that rates have been edging up but we are likely to see another sharp increase later this year after reading the Fed minutes released yesterday. The Fed wants to trim its balance sheet. That means it would no longer be reinvesting in mortgage-backed securities. That is a major issue because the Fed is pretty much buying all of Fannie and Freddie’s securities. They promised not to do it all at once but it would cause a 1/2% rise in rates at the very best and probably considerably more. If you have buyers on the fence, they need to jump in. 
Information above issued by the National Association of Mortgage Brokers (NAMB). 
Posted in:Interest Rates
Posted by Austin Ketterling on April 6th, 2017 4:24 PM


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