US Mortgage Interest Rates Continue To Fall - Lowest on Record

Discussion in 'Loans & Mortgage Brokers' started by 8691, 29th Jan, 2017.

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  1. 8691

    8691 Member

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    Let's take a look at the mortgage rates situation across the Pacific:

    Firstly, where is US GDP going:
    News Release: Gross Domestic Product

    God, only knows the answer to that one...

    Meanwhile, the Feds little experiment last year would appear to have caused US Mortgage applications to fall:
    "Higher rates have hit the mortgage refinance business particularly hard. Applications to refinance a home loan fell 22 percent, seasonally adjusted, during the two-week period. They dropped by more than half in the last four weeks and ended the year 13 percent lower compared to a year ago."
    Mortgage applications tank 12% to end 2016

    However, appearances can be deceiving. Despite the Fed's hike, US mortgage rates fell to their lowest levels on record in August. Take a look at the graph on this page:

    U.S. Mortgage Rates Fall to Lowest on Record

    Perhaps this gives us a hint of what 2017 may bring for American home buyers and investors.

    In summary, it appears that mortgages at around 3.00 to 3.1% are readily available currently to American investors and home buyers.
     
  2. euro73

    euro73 Well-Known Member Business Member

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    US mortgage rates are up, not down.

    You have used data from August 2016 ... your 3% -3.1% estimates are close...ish..... you are only @ 1% off :)

    This is a little more up to date :) US 30 Year Mortgage Rate.
     
    Last edited: 29th Jan, 2017
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  3. MTR

    MTR Well-Known Member

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    they certainly are on the way up, the economy is also on the way up... interesting times indeed.
     
  4. 8691

    8691 Member

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    No, depending on the state and the term, rates range between about 3 and 4% stateside.

    I picked the August article for the long term trend graph. For an up to date opinion, I agree with Perc Pineda, senior economist at the Credit Union National Association. "While the costs of a fixed-rate mortgage have risen in the past couple of months, rates so far have merely returned to the levels of 2014 and 2015. “We’re not in uncharted waters,” Pineda said.

    What the Fed Rate Hike Means for Your Personal Finances

    We're only seeing a return to the, also record low rates, of late 2015. Time will tell...
     
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  5. CK_Invest

    CK_Invest Well-Known Member

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    Sorry I have to disagree with you here, US mortgage rates have only one way to go from here and it's up

    Take a look at treasury yields post trump and Dec fed hike, if you think it has had no impact on mortgage rates you would be wrong

    Looking at the swaps and money market rates it also has 2 hikes priced in by year end, if the bank funding rates go up you can guess what happens to their mortgage pricing