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  • - Hey guys, Austin Schneider here

  • and today we're gonna give you the mortgage rates forecast

  • for November of 2019.

  • Guys, if you've been following the mortgage rates lately,

  • you may have heard and noticed that

  • interest rates have been starting to rise a little bit.

  • While it can be a shocker or maybe startling to some,

  • we are still at extremely low interest rates

  • that many should be taking advantage of.

  • I mean, if we look in late 2018

  • relative to where we are in 2018,

  • we're 1.25% lower than we were in late 2018

  • from a interest rate perspective.

  • What this means for your purchasing power,

  • that is if you were to purchase a $350,000 house

  • in late 2018, your payments would be $200 more

  • than they would be right now

  • if you locked in the interest rates where they were.

  • So a huge difference, guys,

  • and definitely something that should be taken advantage of

  • still, despite the interest rates rising a little bit.

  • And when it comes to November

  • and what we're looking at in November,

  • we should still see rates remain pretty low.

  • President Trump really advocates for the low interest rates

  • and really puts pressure for the low interest rates.

  • And while President Trump doesn't control

  • the interest rates, he does influence them.

  • He can have an influence

  • on where the interest rates are going

  • as he puts pressure on the Feds to keep them low.

  • And history shows that when the Feds lower the rate,

  • when the Feds keep their rate low,

  • mortgage rates really remain low as well.

  • And speaking of Feds, in their meeting,

  • they are meeting at the end of October

  • when we're filming this,

  • so by the time you're watching this,

  • they've already met, and we will link a blog down below

  • that gives you an update on what the Feds decided to do.

  • But if they decided to lower the rates,

  • lower the Fed rates, then that's good news for mortgage,

  • because likely they will still remain low,

  • not directly effected but there's some indirect correlation

  • to low Fed rates and low mortgage rates.

  • But as we head into late 2019, past November,

  • there's still some pressure when it comes to mortgage rates

  • and whether or not they're going to remain low

  • or potentially rise.

  • I mean, the US and China trade war,

  • if something settles there that could cause some fluctuation

  • when it comes to the mortgage rates.

  • Another factor outside of the trade war

  • is if anything happens with the economy,

  • if we get more good signs of a healthy US economy,

  • usually that also causes the mortgage rates to rise,

  • which could directly effect the mortgage rates

  • and taking advantage of where

  • the mortgage rates are right now.

  • So, if you are a mortgage shopper,

  • if you are buying or refinancing,

  • really what we're recommending is locking in a good rate

  • sooner than later.

  • You know, interest rates are very unpredictable,

  • there are still some things up in the air

  • that could cause interest rates to possibly rise up,

  • and just one day, just missing out on one day,

  • could cost you thousands of dollars.

  • So if you're happy with the rate,

  • definitely lock it in.

  • And if the rates end up do lowering,

  • then you could always refinance.

  • But if rates do go up before you're able to lock it in,

  • you might not be able to lock that rate in again, guys.

  • So, for more on this topic,

  • or more about the mortgage rates,

  • please visit us online at themortgagereports.com.

  • Thank you so much for watching

  • and we will see you on the next one.

- Hey guys, Austin Schneider here

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November 2019 Mortgage Rates Forecast

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    林宜悉 posted on 2020/03/04
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