The Federal Reserve just raised interest rates by 75 basis points!! This is the biggest increase by the Fed since 1994!! What does that mean for mortgage interest rate? Do we make too much out of the mortgage interest rate? YOU MIGHT BE VERY SURPRISED.
Clint Hammond of Mortgage Network joins me today to discuss the federal interest rate increase and how it does not necessarily affect mortgage rates. We also discuss inflation's role in increasing mortgage interest rates. And are assumable mortgages a viable option for some buyers? Are adjustable rate mortgages a good option for any buyers? In short, what to expect mortgage rates to do the next 12 to 24 months.
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* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.