Following the election of Donald Trump last Tuesday, expectations for growth and inflation have risen, driven by promises of tax cuts and infrastructure spending. In return, mortgage rates have surged by about 0.25% since the election, according to Bankrate. When taken in context with recent moves in the capital markets and the expectations of a December Fed rate increase, it could easily be concluded that the proverbial switch has been flipped and that the mortgage market has just begun to break out of a prolonged period of low rates.
With greater economic uncertainty keeping a lid on interest rates so far in 2016, homeowners who may have missed out on a chance to refinance their mortgages last year have another opportunity. Along with these lower rates, Continue reading “Should You Refinance Your Mortgage Now?”