What’s going on? Stock prices on the rise
IBM released strong mid 3rd quarter earnings, including a need to revise their sales target, causing their stock to jump 10%.
IBM’s successful report is a strong indicator that other companies will likely outperform market targets as well.
What does this mean? Mortgage rates also on the rise
Although mortgage rates were at their best levels in roughly a month last Friday, they rose modestly earlier this week, and even more aggressively Wednesday as stocks continue to rise.
Why should you care? Take advantage of low mortgage rates while they still last
Federal Reserve Chair Janet Yellen suggested that the central bank will soon resume raising interest rates to reflect the strengthening economy. Most economists foresee the next rate hike — the third this year — coming in December, and this could cause an increase in mortgage interest rates.
So, this could be the best time to make your real estate move in California.
If you’re curious what your rates might look like with Clara, it only takes 3 minutes and a little information to get a quote.