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Surprisingly, interest rates are still historically low. Many economic experts predicted interest rates would increase steadily through 2016. However, due to the combination of volatile economic reports and our falling stock market, we’ve actually seen interest rates decline.
No one really knows what will happen next. What we do know is that rates are the lowest they have been since April of 2015. Many of the experts in the industry still expect interest rates will rise throughout 2016, but nobody knows for sure. Not the National Association of Realtors, nor Fannie Mae, nor Freddie Mac.
