So the 2016 Presidential Election has come and gone, and for most, they never saw this coming. The eventual win by Donald Trump over Hillary Clinton was rarely seen even as a remote possibility, but when it was looking more and more plausible that this may happen, the markets and economy took notice and what we saw can’t be put to words. Initially when the preliminary results were coming in and Trump was picking up wins in states and gaining momentum, the stock market futures were getting hammered and subsequent mortgage rates were trending toward a new historic low. Initially, the thought of the uncertainty from the republican nominee would keep the spiral going downwards with the 2016 Presidential Election Mortgage Rates following suit and almost getting to historic lows.
If there ever was a 180 degree turn, it was what was thought to be happening versus what actually started to transpire. If all the analysts had predicted that the uncertainty would drive 2016 Presidential Election Mortgage Rates lower, then how could the opposite be happening, when the threat is now that rates are trending near highs we haven’t seen in months. Under normal circumstances uncertainty always promotes a reduction in rates, however, overnight the fear of a radical shake-up in politics had subsided and the stock market trended upward and when the stock market is up, mortgage rates normally follow and this is exactly what happened with the 2016 Presidential Election Mortgage Rates.
If you are thinking about purchasing a home, or are in the market to purchase a home, it would be wise to potentially lock-in your rate today as this could possibly be the lowest rates we see for the rest of 2016. Even though just a week ago, there was a positive Federal Reserve meeting, the market and mortgage rates didn’t move hardly at all as all eyes were focused on the main event, or the presidential election. With uncertainty seemingly out of the way 2016 Presidential Election Mortgage Rates are trending toward the highest levels seen in the last 6 months. With this in mind, it might be wise to lock your rate today, even if you aren’t closing for another 30-45 days. It might be a very proactive move on your part that could save you lots of money per month if it should happen that rates keep trending upward for the rest of the year.
With regards to 2016 Presidential Election Mortgage Rates, I could care less who you voted for, but I do care about is getting you into a home with the best mortgage rate you can find. If you are in the market for a new home, then you need to get in touch with me ASAP at 888-900-1020, firstname.lastname@example.org, or you can apply now. I look forward to working with each and every one of you with my goal in mind to put you in the best position to obtain your dream home!