Post-election mortgage rate surge unlikely to dampen housing appetite in Oregon, experts say

Donald Trump’s surprise presidential victory triggered a sudden and unexpected increase in mortgage rates, but those higher home loan costs aren’t likely to cool prices in the red-hot Portland housing market.

The average interest rate on a 30-year fixed-rate loan has climbed to 4.10 percent, the highest since July 2015, according to MortgageNewsDaily.com.  That’s up by about half a percentage point since the Nov. 8 election. The rate of increase matched that of the 10-year Treasury yield, which rose after investors moved billions of dollars from bonds into the booming stock market. Changes in the two rates typically track together.

Posted on November 23, 2016 at 3:44 pm
R TeamNW | Category: Uncategorized

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