Mortgage Rates Increase Slightly For First Time In 2019
The 30-year fixed-rate mortgage hit an average 4.46% in the final week of January, according to a recent report. This brings rates up one basis point compared to the week before, reported MarketWatch.
While the rates increased slightly at the end of January, experts believe that they will begin to fall throughout the rest of 2019.
"Demand for assets like Treasurys, which are considered safe havens, has strengthened in recent weeks as investors have concerns about slowing global economic growth. Bond yields decline as prices rise," according to the report.
"In the wake of the Federal Reserve’s decision Wednesday to stand pat on interest rate increases, investor interest in bonds has surged, sending yields down again, including the longer end of the Treasury yield curve that more directly impacts mortgage rates."
If the 2019 housing market can remedy its low supply of properties and rates do begin to fall, homebuyers and lenders could be looking at a successful year ahead.
To learn more about the current 30-year fixed-rate mortgage and what to expect for the remainder of 2019, click on the image above.
