by Eric Peterson
on Saturday, December 31st, 2016 at 9:55am.
As expected we have seen mortgage rates slightly rise since the election.
Although mortgage rates are still at historically low levels some fear this may cause a drop in the real estate market. You can see a nice explanation of why that isn’t likely to happen from Fannie Mae Chief Economist Doug Duncan.
Our job market is so strong and the demand for homes from people moving to our area means we still have room to go up next year.
Renters who are staying on the sideline because they think the market will go down will be disappointed.
Today’s rates may not be quite as good as they were a month ago but we expect they will be better than 6 months from now.