- Hey guys, Austin Schneider here
and today we're gonna give you
the Mortgage Rate Forecast for July 2019.
So there was an historic fed meeting
in June that hinted that
they are going to drop rates come July.
In turn, mortgage rates have dropped in anticipation
of the feds cutting the rates as well.
Rates are now at two-year lows.
And Trump is putting a lot of pressure on the feds
to cut the rates and to keep the rates low,
and this could really help to keep rates low
throughout all of 2019.
So if you're a six to 12 month buyer,
it's going to ease up a little bit for you.
You're not really going to need to stress too hard
thinking that rates are going to plummet back up
because we should see a nice steady dip in the rates.
And predictions for the rates by the fives by 2020
may not materialize as Trump seeks re-election.
He's going to do everything that he can
to keep the rates low.
A new study by Black Knight says that
6 million homeowners could benefit from refinancing.
They could see rates drop from their
current interest rate by point seven five percent,
which could save them a couple hundred dollars per month.
So if you are a current homeowner, consider refinancing
to, you know, tap into the savings.
And why wouldn't you want to save a couple hundred dollars
per month, if you can, while rates are very low.
All in all, guys, we should see rates, you know,
continue to float around our two-year low.
So, I mean, if you're thinking about buying a house,
don't stress that you need to do it right this second.
If you are refinancing, it's a great time
to review your current rate with your lender
and see what may be beneficial for you.
If you need to get in touch with a lender,
don't hesitate to reach out to the Mortgage Report.
We have plenty of preferred partners that
we can get you in touch with.
All right guys, thanks so much for watching.
If you haven't already, please like, comment, and subscribe.
We'll see you on the next video.