Mortgage rates up since election, but still low ... relatively speaking

"For the near term, fence straddlers may decide to refinance their mortgage before rates climb much higher. That could spur refi (refinancing) activity for a few months," said Chris Ling, head of home buying and mortgages at NerdWallet, an consumer finance website. "And would-be homeb...

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Bibliographic Details
Published inTelegram & gazette
Main Author Eckelbecker, Lisa
Format Newspaper Article
LanguageEnglish
Published Worcester, Mass GateHouse Media, Inc 27.11.2016
Subjects
Consumers
Housing
Housing prices
Interest rates
Koliss, Kris
Mortgage companies
Mortgage rates
Presidential elections
Refinancing
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Summary:"For the near term, fence straddlers may decide to refinance their mortgage before rates climb much higher. That could spur refi (refinancing) activity for a few months," said Chris Ling, head of home buying and mortgages at NerdWallet, an consumer finance website. "And would-be homebuyers might decide to pull the trigger on a purchase a little sooner than they had expected." "What affects borrowers more is how safe they feel in their job," said Michael A. Dell'Ovo, a Charlton loan originator and Local Realty Pro real estate broker. "That's what I'm finding now." "I don't see it as an issue right now," said Priscilla Romasco Kryger, a Realtor for 17 years in the Blackstone Valley. "I bought my house in 1980. It was 14.5 percent then. ... Even if (rates) were 5 percent, that's still low."
ISSN:1050-4184