As 2016 draws to a close, WalletHub has made its economic predictions for 2017. Based on the current economic recovery and the inauguration of a new president, here are 10 important developments expected in the new year. U.S. GDP growth will remain at 2.1 percent The U.S. economy is expected to end 2016 having grown by about 1.75 percent, and
Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed mortgage rates moving higher for the seventh consecutive week. “As was almost-universally expected, the Federal Open Market Committee (FOMC) closed the year with its one and only rate hike of 2016,” says Sean Becketti, Freddie Mac’s chief economist. “The consensus of the committee points to more rate hikes in
The election of Donald Trump has had a major influence on interest rates, with rates on 30-year conforming mortgage increasing by more than 50 basis points to levels the public hasn’t seen in more than two years. In real terms, the movement in rates so far has increased mortgage payments by 7 percent. On a median-price home, that shift amounts to more than
Thinking about buying a house, but your credit score doesn’t quite meet the required standard? You’re not alone. Half of the nation’s consumers have the desired 700-plus credit score, while the average is 695. And while you can obtain a mortgage with scores in that range, you’ll need a 740 or above to get the optimal rates. If you’re wondering
