The industry has been concerned about higher mortgage rates in 2016, but so far, rates have been low. And they may even head into record-low territory soon, according to analysts.
About two months ago, the Federal Reserve raised its funds rate for the first time in years. Since then, however, the 30-year fixed-rate mortgage has been dropping.
The lower mortgage rates do help home buyers lessen their monthly payments and also to qualify for larger loans – which could help provide a boost to the spring home-buying market. But a weaker economy, on the other hand, mixed with stock market losses and sluggish wage growth can also hurt the housing market.
http://realtormag.realtor.org/daily-news/2016/02/22/mortgage-rates-may-be-headed-for-record-low?om_rid=AABQio&om_mid=_BWy2jFB9K9eisH&om_ntype=RMODaily
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