and today we're gonna give you the mortgage rates forecast

for November of 2019.

Guys, if you've been following the mortgage rates lately,

you may have heard and noticed that

interest rates have been starting to rise a little bit.

While it can be a shocker or maybe startling to some,

we are still at extremely low interest rates

that many should be taking advantage of.

I mean, if we look in late 2018

relative to where we are in 2018,

we're 1.25% lower than we were in late 2018

from a interest rate perspective.

What this means for your purchasing power,

that is if you were to purchase a $350,000 house

in late 2018, your payments would be $200 more

than they would be right now

if you locked in the interest rates where they were.

So a huge difference, guys,

and definitely something that should be taken advantage of

still, despite the interest rates rising a little bit.

And when it comes to November

and what we're looking at in November,

we should still see rates remain pretty low.

President Trump really advocates for the low interest rates

and really puts pressure for the low interest rates.

And while President Trump doesn't control

the interest rates, he does influence them.

He can have an influence

on where the interest rates are going

as he puts pressure on the Feds to keep them low.

And history shows that when the Feds lower the rate,

when the Feds keep their rate low,

mortgage rates really remain low as well.

And speaking of Feds, in their meeting,

they are meeting at the end of October

when we're filming this,

so by the time you're watching this,

they've already met, and we will link a blog down below

that gives you an update on what the Feds decided to do.

But if they decided to lower the rates,

lower the Fed rates, then that's good news for mortgage,

because likely they will still remain low,

not directly effected but there's some indirect correlation

to low Fed rates and low mortgage rates.

But as we head into late 2019, past November,

there's still some pressure when it comes to mortgage rates

and whether or not they're going to remain low

or potentially rise.

I mean, the US and China trade war,

if something settles there that could cause some fluctuation

when it comes to the mortgage rates.

Another factor outside of the trade war

is if anything happens with the economy,

if we get more good signs of a healthy US economy,

usually that also causes the mortgage rates to rise,

which could directly effect the mortgage rates

and taking advantage of where

the mortgage rates are right now.

So, if you are a mortgage shopper,

if you are buying or refinancing,

really what we're recommending is locking in a good rate

sooner than later.

You know, interest rates are very unpredictable,

there are still some things up in the air

that could cause interest rates to possibly rise up,

and just one day, just missing out on one day,

could cost you thousands of dollars.

So if you're happy with the rate,

definitely lock it in.

And if the rates end up do lowering,

then you could always refinance.

But if rates do go up before you're able to lock it in,

you might not be able to lock that rate in again, guys.

So, for more on this topic,

or more about the mortgage rates,

please visit us online at themortgagereports.com.

Thank you so much for watching

and we will see you on the next one.