I just read an article about how some economists are worried about the impact of Trump’s policies on mortgage rates. It got me thinking about my own situation since I’m planning to buy a house soon.
Has anyone else heard about this? What do you think might happen to mortgage rates in the near future? I’m not super familiar with how politics affects the housing market, so I’d love to hear your thoughts.
Also, if rates do go up, what are some ways to still get a good deal on a mortgage? Any tips or advice would be really helpful!
I’ve been keeping an eye on this situation too. While it’s hard to predict exactly what will happen, historically, changes in economic policies can indeed affect mortgage rates. From what I understand, if Trump’s plans lead to increased government spending and higher inflation, the Fed might raise interest rates to counteract it, which could push up mortgage rates.
As for getting a good deal if rates rise, consider locking in a rate as soon as you can if you’re serious about buying. Also, improving your credit score and saving for a larger down payment can help you qualify for better rates. Some lenders offer float-down options too, which let you take advantage of lower rates if they drop before you close.
Remember, though, that rates are just one part of the equation. The overall housing market conditions in your area are equally important to consider when making a purchase decision.
yeah, i’ve heard about it. its kinda worrying, but dont overreact—predictions can be off. maybe consider an adjustable-rate mortgage if rates spike, and shop around for the best deal. talk to a few lenders to find your spot.
Interesting topic! I’m curious, have you talked to any local real estate agents about this? They might have insights on how our specific market could react. Also, what’s your timeframe for buying? If you’re not in a rush, you could wait and see how things play out. What’s your biggest concern about potential rate increases?