December 10th, 2018 | Mortgage News
As it pertains to low interest rates "Be careful what you ask for" - it will likely take pain, chaos, fear and uncertainty to get them.
This past Thursday, thanks to uncertainty around the U.S. and China trade deal, fear of slowing global economic growth, a roughed-up Stock market and the likelihood of fewer Fed rate hikes, the Bond market and home loan rates hit their best levels in three months.
On Friday, the Labor Department reported that 155,000 jobs were created in November, a bit less than expectations of 189,000. The labor market remains incredibly strong and wages are rising at fastest pace in a decade.
Low rates coupled with a solid labor market and rising wages make for great home purchase conditions.
It appears the highest home loan rates for 2018 are behind us and with low inflation and low bond yields in Europe and Asia, our home loan rates should not go too high for the foreseeable future. That is great news as we head into 2019.
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