It's a tough market for homebuyers. Prices are high and supply of available homes is low. And while the Federal Reserve's rate hike could make home buying more expensive, house hunters shouldn't start panicking yet. The Fed increased its benchmark interest rate by one-quarter of a percentage point on Wednesday. The Fed doesn't directly set mortgage rates, but its actions can affect the housing market. Mortgage rates tend to move with the government's 10-year Treasury note, which serves as a benchmark for many forms of credit, including mortgages. Interest rates on the notes have already risen since Donald Trump was elected president and on signals the Fed would continue to tighten monetary policy. But Wednesday's hike was widely expected, meaning the markets had already priced it in. So many experts don't see rates moving much higher in the coming weeks. "The last couple of times the Fed made a move, the rates firmed up in advance of the decision, and when it happened they kind of faded," said Keith Gumbinger , vice president of HSH.com. The Fed has now raised rates three times since the end of 2015. Following the first hike in December 2015, mortgage rates started 2016 with a drop for the first few weeks.
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It's a tough market for homebuyers. Prices are high and supply of available homes is low.And while the Federal Reserve's rate hike could make home buying more expensive, house hunters shouldn't start panicking yet.The Fed increased its benchmark interest rate by one-quarter of a percentage point on Wednesday.The Fed doesn't directly set mortgage rates, but its actions can affect the housing market.Mortgage rates tend to move with the government's 10-year Treasury note, which serves as a benchmark for many forms of credit, including mortgages. Interest rates on the notes have already risen since Donald Trump was elected president and on signals the Fed would continue to tighten monetary policy.But Wednesday's hike was widely expected, meaning the markets had already priced it in. So many experts don't see rates moving much higher in the coming weeks."The last couple of times the Fed made a move, the rates firmed up in advance of the decision, and when it happened they kind of faded," said Keith Gumbinger , vice president of HSH.com.The Fed has now raised rates three times since the end of 2015. Following the first hike in December 2015, mortgage rates started 2016 with a drop for the first few weeks.
Find your listing .. Visit Our Sites USA Lending And Realty .. and The World For Sale
Visit Our Site For “Your full service mortgage and loan pros” … USA Lending Inc
To Search in Arabic .. Please Visit Istithmar USA
To Search in Spanish … Please visit propiedad para laventa
Visit the Miami Bright Education Foundation pages and read About it and its articles ….
Donald Trump was most famous for being a real estate developer before he became a reality TV star and then wound up Leader of the Free World. So it may not be a huge shock to find out that home builders have been on fire since he was inaugurated.Pulte (PHM), DR Horton (DHI) and Lennar are all up more than 10% in the past two months and are among the top 25 stocks in the S&P 500 since President Trump took office.Even though mortgage rates could climb if the economy continues to pick up steam (with or without a Trump stimulus package this year) and as the Federal Reserve hikes short-term interest rates, builders are confident more people will be buying homes.Stuart Miller, the CEO of Lennar (LEN), said in the company's earnings release this week that there was an "improving macroeconomic environment following last year's election."He pointed to "renewed optimism, wage and job growth, and consumer confidence." Miller added that "as a result, our homebuilding operations have gone from slow and steady to a faster than expected sales pace throughout our first quarter."The hope is that the economy, which already had started to pick up some steam in the past year before Trump's victory, will continue to gain momentum.If that happens, prospective homebuyers may not be scared off by higher rates because their wages are also going up.