Mortgage rates are on the rise. According to Bankrate's latest survey of the largest lenders, the benchmark 30-year fixed-rate mortgage increased to 4.1 percent from 3.8 in early November; 15-year rates have increased to 3.3 percent.
Says David Payne, Staff Economist for Kiplinger, "The Federal Reserve is on track to raise short-term interest rates one-quarter of one percentage point on December 14. Decent employment reports for August, September, October and, presumably, November, should give the Fed cover to act."
Steve Cook, editor of Real Estate Economy Watch, anticipates the rate increases will stick, and added, “The Fed plans to continue to move cautiously, so expectations are that we will see a gradual
but steady rise in rates in 2017.
Inman – November 18, 2016
Kiplinger -- November 11, 2016