Market Watch November 2018 | Breckenridge Real Estate Statistics
Posted by Breckenridge Associates Real Estate onWith a roaring jobs report, and the economy growing in the third quarter at an annualized rate of 3.5%, wages up, an unemployment rate well below 4%, and amidst high consumer confidence levels, the Fed is almost sure to raise the interest rate to 2.5% at their December meeting. This will be the fourth interest rate boost this year, deployed as a measure against unsustainable growth. As mortgage rates often move in anticipation of the Fed meeting and possible/probably rate boosts, it no surprise that the week of November 1-8, 2018 saw a jump in mortgage interest rates. Freddy Mac pegs the average 30 year fixed rate mortgage at 4.94%- a seven year high. It’s notable that we are still below 5%, a number that seemed unattainable not that many years…
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