All right all you experts. What’s this going to do for Mortgage rates and the ability of people to refinance?
Mortgage rates will go up in the short haul, then decrease. We are seeing rates in the 4.75% range now. Eventually this may reduce the rate to as low as 4%.
As far as getting a loan goes.....who knows. The credit market has been tight. Only those with good credit and income have been able to refi - however, I am seeing the mortgage brokers refinancing lower credit scores.
Mortgage rates will rise because this will lower the yield on 10 yr treasuries,again.Dollar goes down,mortgage rates go up.
Probably not much.
In order for a bank to over lower rates they have to believe they will get their money back and then some.
With the coming inflation/devaluing of the dollar that isn’t going to be the case. Getting paid back with dollars that are worth considerably less is a losing deal for the banks.