So now nearly every analyst is on board that the Fed will in fact need to make a move up on the short term rates. Long term yields are moving up as well. Mortgage rates are finally going to lose the Federal Government's support and rates will begin to normalize. This means that buyers have an cheap money window that is closing. Rates are in the threes and we will start to see them inch up with each meeting of the Fed. Starting in December, yes next month, were are almost certain to see the first of several incremental increases that will lead to a slow rise in mortgage rates.
Buyers, I know the holidays are looming, but now is the time for you to cash in on the biggest Christmas gift of your life, a sub 4% mortgage that will keep on giving long after the 2016 Holidays fade away.