California Mortgage Rate News: November 3, 2017

Published on November 4, 2017

– 2 min read

What’s going on?

After surging to the highest rate in months last week, mortgage rates held steady, according to Freddie Mac’s Primary Mortgage Market Survey.

Also this week, President Trump nominated Jerome Powell to serve as the new Federal Reserve Chair.

What does it mean?

While rates may have held steady this week, they’re still expected to rise.

“Based on [Wednesday’s] Fed decision and what’s likely to come in December, home seekers should prepare for higher mortgage rates in the months ahead. It is likely that the Fed will move the Fed funds rate up at its December meeting…” said Danielle Hale, Realtor.com’s chief economist.

Why should you care?

Despite market turmoil, rates are still low. How much longer will these low rates last?

Well, that’s impossible to know for sure, but with a December rate hike quite possible, it’s likely they won’t be this low for long!

Curious what your rate could be? Find out in just a few minutes through our easy online process.

Jack Rong
Jack Rong works in Capital Markets and Investor Relations at Clara with prior experience managing agency mortgage portfolios at Barclays. When he isn’t thinking about mortgage math, he enjoys playing basketball and volunteering at the Boys and Girls Club.
Want to know how much house you can buy? Calculate Home Affordability
Clara

Clara is an online lender helping individuals and families finance their lives in a more efficient, transparent and empowered way.

Learn More

The Clara Team is Now Part of SoFi

We are excited to announce that the Clara team is now part of SoFi. Three years ...
We are excited to announce that the Clara team is ...
1 min read

Questions to Ask a Home Inspector

Before you buy a home, it’s important to order a home inspection from a profes...
Before you buy a home, it’s important to order a...
4 min read

Negotiating After Home Inspections

After a home inspection, you as the buyer are in a position to think through the...
After a home inspection, you as the buyer are in a...
3 min read