The Mortgage Rate Projections For March 2017 Are Out

Mar 1, 2017

80% of experts and Fed officials are in agreement that March will see a rise in rates for 30-year mortgages.

California, United States - March 1, 2017 /MarketersMedia/ —

About a month back, Treasury yields dropped following the reveal of the would-be French president elect’s – Marine Le Pen – poll numbers. The trend repeated on the 21st of last month when Le Pen’s polls proved her gaining in popularity amongst the French citizenry.

This has investors taking the safety route with less risky assets like government bonds, the force responsible for the recent drop in yields. The source of investors’ anxiety was the release of a poll showing Le Pen picking up speed among voters by 14%, coming in behind Emmanuel Macron who’s currently leading the race in France’s presidential election.

Who Will Win Most Likely

However, two new surveys that emerged a couple of days ago show Le Pen has already been peeking, making the French independent candidate Emmanuel Macron the most likely to win against his far-right opponent.

It’s too early to tell who will win and whether the financial markets will go through a panic phase. The first round of voting takes place on April 23rd, and the last completes on May 7th, so there is still a long way for things to unfold and take the “experts” by surprise.

The Feds Could Raise Rates in March of this Year

The minutes revealed during the Federal Reserve meeting of February 22nd shows the central bank’s intention to raise interest rates before March closes. Meanwhile, the market index has been going through an overall decline. Dow Jones went up 32.60 points (0.2%), closing for the ninth time in a row – its longest streak since 1987. Conversely, NASDAQ and S&P 500 both fell by 5.32 points and 2.56 points, respectively. This was mainly due to a 1.6% weight put on by falling oil prices.

Word from chief market strategist, Bob Pavlik, hit the airwaves following the last Fed meeting, stating that “a rate increase in March is most likely on the table even though the minutes don’t necessarily indicate that and it seems the Fed is prepping the market for it.”

The minutes revealed some Federal Reserve officials outwardly expressing their willingness towards raising rates if the economy keeps getting stronger. The same transcript, however, showed a certain reluctance among officials due to Trump’s significant fiscal policy. So significant, in fact, that his policy was the main culprit behind soaring stocks over the previous few months.

Another forecast with more hard numbers can be found in this article.

What the exact numbers will be, still no one knows. But it is evident that America’s homeowners have potentially two different doors to choose from, one that could close upon a possible rate rise in March and a “safety net” that keeps the door open should the rates remain as they are.

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