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March 2017 Mortgage Interest Rates
- originally posted March 1, 2017 -
30-year mortgage rates at the beginning of March were hovering near 4.25%, and the 15-year slipped just below 3.5%.
A lack of market stimulus the first few months of the year have kept stocks and bonds in check, and interest rates didn't move much in either direction. With the favorable market response to last weeks presidential address, we experienced a large rally in the stock market. Investors moved cash out of bonds (safe havens) and into the surging stock market. This caused interest rates to tick upwards.
With the Federal Reserves's next meeting slated for mid-March, most bets are on the first rate hike of the new year. Ahead of the meeting though, comes other important economic data... the February jobs report. If the jobs news is positive, a rate hike appears imminent. If jobs decline, the Fed may punt and leave things as they are.
Till next month,
Michael Dagner is a real estate professional in Denver, Colorado.
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir