- June 22, 2021
- Posted by: avantmortgage
- Category: Mortgage
What usually happens to Mortgage Rates when interest rates goes up – When it comes to getting a mortgage loan, the best time to do it is when the interest rate has settled at a low rate.
When it is falling, there is a lot of energy trying to get to it but you should wait until things slow down and the rates stabilize.
Especially during a crisis, you should expect rates to keep falling as interest rates go down to encourage more borrowing.
With the covid-19 pandemic getting under control, the economy is slowly but surely starting to recover.
Mortgage Rates usually follow interest rates set forth by the governments of the world.
The Interest rates set by the Federal Reserves of the United States of America usually is the key interest rate to take note of.
Interest rates are used more for controlling growth and also inflation.
With inflation going up, we are likely to see the Feds increase rates.
With that Singapore interest rates are likely to increase as well.
Mortgage Loan rates are therefore likely to increase as time goes on and we will likely see this historical low rates no longer exist.
It is about time to refinance your mortgage right now so that you can save more money over the time span of 3-5 years.
You can save a couple of thousand over years in this manner.
Avant Mortgage is a Singapore based home loan broker, you will be able to get good rates on Singapore property loans.