Summer 2017: The Season Rising Rates? Quite the Opposite. Quite the Opportunity.
VA mortgage rates fell through the floor last summer, only to rebound mightily just hours after the presidential election.
Summer 2017 could prove even more turbulent for VA mortgage rates.
Mortgage rates could swing upward again as the Trump administration implements new policies.
Fortunately, mortgage rates are still historically low. As a homeowner or refinance shopper, it could pay to lock in a rate as soon as possible.
Improving Economy: A Double-Edged Sword
The economy appears to be on the mend, with the lowest unemployment rate in a decade and workers earning more.
And, the stock market is on fire.
But there’s a downside to the rosy economic picture.
Mortgage rates tend to rise — often dramatically — during good economic times.
Inflation is a true threat in the emerging landscape, and inflation is very bad for mortgage rates.
2017 could be “the year of inflation” after stagnant growth for nearly 10 years.
The Federal Reserve has pumped trillions into the economy to goose inflation.
VA mortgage rates are still in the 3s, but may not stay there for long.
How To Combat Rising VA Loan Rates
The VA home loan program offers a revolutionary product that most homeowners take for granted: the 30-year fixed mortgage.
This loan type sounds “ordinary” to most consumers. But it allows you to lock in today’s rate levels for thirty years.
It doesn’t matter what happens to rates in 2017 and beyond.
Locking in now secures 2016 VA rate levels for as long as you keep your mortgage.
That’s a benefit that’s hard to pass up.
Lock in now, and protect your future against skyrocketing rates that may commence liftoff after summer 2017.
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