Interest rates have been very volatile over the past couple months. Today we had multiple mortgage rate increases. If you look at the attached 10 year note chart you can see how rates jumped approx 40 basis points from the middle of October to early November. They were slowly coming down over the past three weeks, but jumped back up in one major move today.
Fed Chair Janet Yellen’s comments at the Joint Economic Committee of Congress, and the strengthening of the Euro had a negative effect on US rates.
A Federal Reserve rate increase of .25 is almost certain on December 16. The big issue now will be the path, and quantity of Fed rate increase going into the future.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me.
Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth