Is Now The Time To Buy? Mortgage Watch – July 25, 2021

To find out if now is the time to buy, check out this week's mortgage highlights:

Growing concerns for the potential impact of the delta variant of COVID-19 helped pushed mortgage rates downward last week.
The limited economic data continued to point toward ongoing recovery, but bond markets appear to be focusing on the virus and the Fed. Few have predicted that the Fed will make any moves or significant changes to its policy this week, but the after-meeting press conference could be very influential.
Few have predicted that the Fed will make any moves or significant changes to its policy this week, but the after-meeting press conference could be very influential.
Right now, there are only predictions of when the Fed may begin to taper its purchases of Treasuries and mortgage-backed securities. With inflationary pressures continuing to rise and the economy nearing its pre-pandemic level, knowing the date that the taper will begin will determine when rates will rise.
While the Fed’s policy may hint to when the Fed will make this first move, some expect Fed Chair Powell to provide some clues.
However, if the policy or Powell express significant concerns that the virus could undermine the current economic recovery and extend the Fed’s accommodative policy, then rates could move even further downward.

Get Squared Away on Pre-Sale Renovations

According to recent research, 89% of people who sold their homes did some form of upgrades to the house before selling. However, almost one-third found the process difficult in terms of deciding what renovations and upgrades would provide the best ROI and how to finance those renovations. Before you jump into a costly renovation project, consult with your First Team agent! They can help work through the potential ROI and the smartest ways to finance your home’s upgrade.

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