Chance of a Rate Hike in June
The Fed is poised for a rate hike in June. Some of the key points that the markets focused on is that even though there was one decenting vote, there were actually several members that were supportive of a rate hike at the April meeting. They had less concern over global weakness (China) but did voice concern over how markets would react to the Brits exiting the European Union.
They cerainly left the door wide open for a rate hike in June and feel that the economic data from the second quarter would support it.
THE CURRENT TREND OF ECONOMIC DATA IS STRONG ENOUGH RIGHT NOW FOR A RATE HIKE… IT WILL TAKE A REVERSAL OF THIS TREND FOR THEM NOT TO RAISE RATES.
Richmond Federal Reserve President Jeffrey Lacker stated that the markets totally misinterpreted the Feds statements and bias from their March and April meetings and that he supported a rate increase in April (but he didn’t vote against leaving rates alone).
He also said he sees potential for up to four rate increases still this year.
Federal Reserve minutes (read the official release here).
Refinancing or buying a home doesn’t have to be Stressfull
With rates so low many have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan. At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.
The average time to close a loan is about 30 days. We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available. We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.
Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.
Call me, John Sauro for a free consultation. 877-794-5363.
Sources CNBC, Teno3, Bloomberg
Rates are subject to change without notice. The rate of 3.75% with an APR of 3.783% is for a 30 year fixed rate loan with a conforming loan amount up to $417,000 purchase or rate & term refinance with a max loan to value of eighty percent and a 740 credit score and a $1,614 origination fee.