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Due to the pandemic, the United States mortgage rates have fallen to the lowest levels in history. Do not expect these rate to last much longer. The federal government continues to remind us the interest rates will begin to taper up.
As the government transitioned into the Biden administration, we have seen the federal reserve prepare for in increase. With interest rates immediately climbing drastically within the first 30 days of his administration.
The government has been walking a fine line to keep our economy functioning, as they manage the pandemic, politics, inflation and unemployment rates.
On September 4th, the remaining states will end the Pandemic Emergency extended Federal Unemployment Compensation. With the current political climate, mortgage rates could be at the lowest possible position. This would be a great opportunity for you to lock in interest rates under 3%!
There is a good chance that rates would return to 4.5% by next year. The difference might cost you hundreds.
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