Mortgage interest rates push higher on market volatility

Why Now Is Still the Best Time to Get a Mortgage. So they switched to stocks and real estate investments. By December 16, 2016, the rate climbed to 2.6 percent. That’s higher than its 2.24 percent rate at the beginning of 2016. Rates also rose because the Federal Reserve raised the fed funds rate on December 14, 2016.

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The average mortgage rate in the 1990s was 8.1 percent, and rates didn’t fall below 5 percent until 2009. So for buyers who can make the math work, buying a home is likely still an investment.

The stock market’s behavior could influence home-buying activity. Some have cited strong economic news in recent weeks as the reason for the market’s fluctuations. And a sell-off in the bond market also helped to push mortgage rates to a 14-month high.

Rates are now up almost 35 basis points over the past month – about half the magnitude of the increase in mortgage rates that markets saw in the month after the 2016 U.S. presidential election. The increase in mortgage rates was driven by the combination of financial market volatility, employment and wage growth data – further evidence of a strong U.S. labor market and stronger global economic growth.

Lower mortgage rates help Hovnanian reduce its net loss

Duration-the Measure of a Bond’s Volatility. Duration is the average time it takes to receive all cash flows from a bond or other asset. It is a mathematical formula that calculates a bond’s volatility independently of its maturity and yield, for a particular current interest rate, which allows an easier comparison of different bonds.

Adjustable rate mortgages A) protect households against higher mortgage payments when interest rates rise. B) keep financial institutions’ earnings high even when interest rates are falling. C) benefit homeowners when interest rates are falling. D) generally have higher initial interest rates than on conventional fixed-rate mortgages

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Group CIO Dan Ivascyn discusses how PIMCO has been preparing portfolios for higher market volatility and highlights areas of opportunity, including housing.

Rate markets are likely to be on hold most of the day until the press conference with President Trump and Chinese V.P. He. However, anything unexpected could inject a lot of volatility in the market and push rates higher. BOTTOM LINE: If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate.