The downward trend in mortgage rates continues…

The downward trend in mortgage rates continues, as investors worry that recent turmoil within the White House administration will prevent President Trump from passing significant tax cuts. A lack of tax cuts could cause the stock market to erase recent gains. Mortgage rates were also aided by the minutes from the Fed meeting in July, which were released this week. It seems there’s a growing number of Fed members who fear that additional rate hikes could hurt the economy, due to the lack of inflation. As a result, the current consensus is for no rate change at the September Fed meeting and only a 50% chance of any rate increase by the end of the year – good news for mortgage rates. Source: Ernest Heredia Loan Consultant, PERL Mortgage, Inc.eheredia@perlmortgage.com

With home values up from their peak, many homeowners are finding themselves with a lot of equity, so this is a great time to sell!

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