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If we had workable, crystal balls, Wouldn’t it be easier to predict trends, and what will the future bring? However, since most have not found their own personal version of these reliable, it may make sense, in order to better understand, some hints, and pointers, which may be useful, in providing us with more information, to make An informed decision! One of these relevant issues relates to mortgage rates, and it is to determine whether/if, and, for how long, these interest rates will remain as low (or close) as they are today. Keeping this in mind, this article will attempt to briefly consider, examine, review and discuss some of the relevant factors to focus these views and evaluations on.
1. The so-called, experts: The funny thing about the experts is that they don’t all agree. When it comes to interest rates, it could be more – so! Most economists today who specialize in this area believe we will probably see little significant change in these rates, at least until after the 2020 elections. Their reasoning, it seems, is based on a few factors, including political considerations (the president is seeking re-election), fear of risking economic turmoil, and more. However, they also warn us, this may not materialize, if inflation spikes suddenly, as could happen, and other, real, and/or, perceived risks, etc.
2. external influences: What could be the implications of President Donald Trump’s rhetoric, imposed, and/or escalation of trade wars, potentially due to rhetoric? If the war-will with China continues for a significant period, it will make everything more expensive, such as building supplies, electronics, machinery, etc. If Japan, and the current administration, fail to reach some mutually acceptable settlement, this will create additional stress on the system. What about the effects of our conflicts with our allies including NATO, the European Union (EU), the United Kingdom (due to BREXIT), etc.?
3. Economic Considerations: If the trade war escalates, or even, if many people experience instability, etc., these economic considerations may affect the number of potential, qualified, home buyers who are serious about buying a home. Willing, willing and able to consider that will transform the real estate market, from a seller’s, to a buyer’s market, and, in part, due to supply – and – demand, its effect/s on mortgage rates Could!
4. supply and demand: As such, almost every other aspect of economics, supply and demand, has a major impact on real estate as well.
Proceed wisely, and pay attention to the effects of various factors on the future level of interest rates, and thus, what the mortgage may cost. A wise consumer, who educates himself, is best prepared and ready for any contingency!
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