CHARLOTTE, NC – This week we witnessed the 10-year Treasury yield reach 3% for the first time since January 2014, and it’s expected to rise even higher. This shift is likely because the Fed is expected to hike interest rates again in the near future. And with the economic growth the nation is experiencing comes debt that’s necessary to finance it and more inflation. If the 10-year Treasury yield continues to rise, it could affect business and consumer loans—including the possibility of an increase in mortgage interest rates.
In light of this milestone in the market, it doesn’t look like we’ll be seeing a drop in rates anytime soon. This should be reason enough to refinance or lock in your home purchase interest rate now. Rates are rising and they could be rising faster than we think. If you’re looking for a sign to buy or refi, now may be the time to lock in your rate and get in before the market shifts again.
Call us today or fill out our form to get started and lock in your low rate today!
We started Cardinal Financial with a passion for developing a better mortgage experience. Our proprietary loan origination software, Octane®, is a sure advantage, but we soon found out that revolutionary technology only goes so far without revolutionary people. We place a premium on hiring talented, forward-thinking, entrepreneurial spirits who are committed, not only to reimagining the possibilities of mortgage lending, but to delivering a personal experience to every borrower every time. We take a tremendous amount of pride in our people because they’re what sets us apart from the rest. Our culture is strengthened by self-starters who look forward to coming to work every day and are willing to go the extra mile for their colleagues and their clients. Cardinal Financial is where your career meets your calling. Join us and be a part of something more than mortgage lending. For more information about Cardinal Financial, visit cardinalfinancial.com or follow us on social media: facebook.com/cardinalfinancial, @CardFinancial on Twitter, and @CardinalFinancial on Instagram.