Mortgage
Stable economy holding fixed mortgage rates steady.
North America’s economy is growing faster than expected, causing bond traders to be on edge due to inflation concerns. Fixed rates may decrease in the future if signs of disinflation continue. National lenders have reduced two- and three-year fixed rates while increasing uninsured hybrids and insured one-year rates. The best value for insured borrowers is currently the five-year adjustable-rate mortgage. For uninsured borrowers, the three-year fixed rate remains the leading option due to stingy variable-rate discounts. Robert McLister is a mortgage strategist and interest rate analyst.
– North America’s economy growing faster than expected
– Bond traders concerned about inflation
– Fixed rates may decrease with signs of disinflation
– National lenders reduced two- and three-year fixed rates
– Best value for insured borrowers is five-year adjustable-rate mortgage
– Three-year fixed rate is top choice for uninsured borrowers
– Robert McLister is a mortgage strategist and interest rate analyst
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