The Latest on Interest Rates - May 14, 2021
As of May 12, the newest inflation data came out and was higher than expected and what we have been seeing in recent months. This implies that prices are also increasing at a faster rate than expected. The Federal Reserve has held the stance that inflation has remained steady, and due to that reason, they have been able to keep the federal funds rate low. Everyone will be watching to see if the Federal Reserve changes their stance on keeping rates where they are at. If the Fed hints that inflation is increasing faster than expected, there is a chance they will have to raise the federal funds rate sooner than anticipated. All of that is to show that there is potential that this will impact mortgage interest rates.
Currently, rates appear to be remaining at near all-time lows, with the average 30 year note at 3.09% and a 15 year note at 2.39%. If you currently are or have recently considered purchasing a home, these are likely some of the lowest rates we will see for quite a while. Our team is equipped and eager to serve you and your real estate needs. We have been successful and aggressive with serving our clients to ensure that they get into the home of their dreams at a great price.
For more questions on this or to see how we can get you in contact with one of our preferred lenders, give our office a call at 512-537-4977 today.
