Mortgage rates are increasing after the presidential election. The President-Elect Trump plans to invest in infrastructures (roads and bridges), and the market is expecting the rise of interest rates. The Federal Reserve Boards are likely to raise the rates too.
The average of 30-year fixed rate conventional mortgage has gone up from about 3.5% to 4% in a week.
But, historically 4% is still very low compared to the previous rates – it was more than 18% at some point in 1981.
It is still good time to invest in real estate.
Let me know if you want to look into upsizing or downsizing or invest into a second home.
Data and Image as of Dec 1, 2016 by: http://www.freddiemac.com/pmms/