Editorial: 'Twas The Month Before Christmas
Editorial: 'Twas The Month Before Christmas?
Last month, I mentioned some of the true pressures that are causing the rates to go higher. Yet again, there have been some actions in the market that will have a continued effect on rates.
- The 10-year bond yield hit its highest point since May 2017 on October 25th. This is due to the fact that there are multiple items in the current environment to continue to push the interest rates higher.
- President Trump is in the process of selecting Janet Yellen’s successor for Federal Chairperson.
- Tax reform seems more likely to occur in the near future, as it has bipartisan support.
- The year ending ‘Santa Claus’ rally is coming to town (pun intended). More information about this next month!
- Lastly, my continued conversation regarding the unwinding of the Federal Reserve’s mortgage back securities purchased in QE1 and QE2.
If you have been considering a purchase or refinance, you’ll want to do it sooner rather than later to make sure you lock in the best rate possible.
To some, this may be viewed as just another salesperson trying to drum up business by causing fear out there. However, this is NOT the case. I’ve helped thousands and clients and friends over the years, and have been able to keep their trust by being a partner and advisor rather than just “another mortgage sales guy.”
It may sound corny, but my clients and friends see me as a facilitator of the American Dream of Home Ownership!
Folks, if you are thinking of buying or refinancing, give me and my team a call!
Michael Chalker is the Branch Manager of our Gilbert branch.