As the year quickly reaches its end, the long terms rates for mortgages in the United States continue their upward climb following the results of the presidential election. The average rate on a 30-year fixed rate loan increased to 4.03 percent, the highest percentage since July of last year and up from 3.94 percent during the previous week. The rate on 15-year home loans inched up to 3.25 percent, up from 3.14 percent last week and the highest since January.
Long-term interest rates have continued to increase since the election due to bond investors and their uneasiness about the president-elect’s plan to cut taxes and spend tons of money on roads, bridges, airports and other infrastructure that may spark inflation. When inflation is in the forecast, investors require higher long-term rates and pay lower prices for bonds.
The rise in interest rates is another reason to consider working with a reputable private hard money lending company like M&M Private Lending Group, LLC where rates remain competitively flexible.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.