It’s been a recent period of stock market ups and downs, yielding in some uncertainty. Also, with the partial government shutdown, some pivotal data on specific areas of the real estate market remain to be seen. At the same time, long term treasury yields dropped, somewhat significantly. In fact, they influence 30 year fixed rate mortgages. As a result, fixed mortgage rates also dropped. And, they dropped to early September levels. That’s a nice place to be for home shoppers. And, that’s the good news for this January 2019 home mortgage rates update. Although, for the lower mortgage rates to make much impact, they must hold for more than a few weeks.
January 2019 Home Mortgage Rates Update On Fixed Mortgages
Since mortgage rates slumped recently, during the holiday season, and slow time for real estate, they don’t give us much back up stats to go on. Although, one thing is clear. They won’t enliven the market, unless they become more than a long-term treasury yield hick up. As a result, the hope is that these highly desirable, lower mortgage rates actually catch on for January.
January 2019 home mortgage rates update also takes a look at how the lower rates could lift the level of home refinancing. That is, some homeowners surely welcome the new rates. They view them as pure opportunity. In fact, those with refinancing in mind, may well have put it off, while high interest rates dominated 2018. At the same time, only modest home sales also left its mark on 2018.
Many want to know if the reprieve in mortgage rates signals calmer waters for 2019? Well, it’s a bit too early to tell. Although, some pundits say, probably not. In fact, for them, the Treasury yield drop likely means little more than ‘safe haven parking’. That is, until trading and 2019 really get rolling.