Mortgage rates are drastically going up after the U.S. election of President Donald Trump, then leveled off in the weeks that followed. However, while mortgage rates leveled off, they are still steadily going up. Data from Bankrate shows 49 U.S. states and the District of Columbia all experienced an increase in mortgage rates from last week. The only state to break that increasing trend was Missouri, which remained steady from the previous week at 3.98 percent.
Here are the top 10 states with the highest mortgages rates
Mortgage rates are actually creating a pattern all their own, as they have not been following the 10-year Treasury yield, Freddie Mac’s weekly survey pointed out. And as the 30-year fixed-rate mortgage sees its rates increase, consumers move toward alternative mortgage options such as adjustable-rate mortgages, Ellie Mae’s most recent Origination Insight Report shows… Read more at HousingWire.com
If you are looking and planning to purchase a new home in the near future, right now is the perfect time to make it happen, with interest rates still near historic lows. Interest rates are not uniformly low all across the country, though. Some U.S. states have relatively high average rates. But even though you live in those states, there is little reason for you to worry about.
10 States With the Highest Mortgage Rates
For context, mortgage rates for 30-year loans hit a nearly three-year high of 4.32% in December, and were recently around 4.27%. The Fed has begun raising interest rates and some experts are suggesting that mortgage rates could exceed 6% by 2020. So which states offer the worst interest rates these days? Well… Read more at The Motley Fool
Current Mortgage Rates & Trumponomics
What are the current mortgage rates and how are they being affected with the new President elect Donald Trump? Since the election a new term has been invented called Trumponomics. Trumponomics is all ready affecting our economy and the current interest rates. How high will these mortgage rates rise? In this video… Watch here