The Federal Reserve wrapped up its third meeting of the year in May and interest rates remain unchanged. As for future rates increases, the group said it will be patient moving forward, as stated at prior meetings.
So will the market maintain its stability? It’s unsure whether rates will increase in the third and fourth quarters of 2019. Rates are, however, anticipated to remain low for the foreseeable future.
What’s more is the mortgage industry has seen more stability with the rise in minimum wage. More working-class Americans are now opting for homeownership oppose to being lifelong renters.
This market stability is great news for those seeking a home. Take advantage of this low-stress environment and lock in rates for a new home purchase or refinance. Our specialists are available to walk you through the process. Give us a call at 949-356-6400.