Plans for tax cuts and fiscal stimulus could lead to stronger economic growth, which in turn could lead to higher mortgage rates later this year.
For the Huffington Post, NerdWallet offered a forecast for mortgage rates this year. Rates are still historically low, but could continue to climb upwards towards 5 percent in 2017.
Privatizing government-backed lenders such as Freddie Mac and Fannie Mae could raise mortgage rates, and altering the Dodd-Frank could impact the number of people with access to credit.
“If you’re thinking about getting into the market, it’s a good time to lock in rates before they go up higher,” says Jordan Levine, an economist with the California Association of Realtors. “If you’re thinking about selling 12 months from now, you might consider going a little bit early so that you can get locked in to a low rate on your new home.”
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