US Mortgage Rates Rise To 5.25%, Up From 2.88% Under Biden (Fed May Boost Rate 50 BPS At Next Meeting)

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by confoundedinterest17

Fortunately, I refinanced my home mortgage while Trump was still President. When Biden was installed as President, the 30-year mortgage rate was 2.88% (according to Bankrate). It has now risen to 5.25%.

The Federal Reserve is now expected to raise their target rate as much as 50 basis points at the next meeting on May 4, 2022. This chart shows the anticipated rate hikes coming our way, peaking in summer 2023.

Fed Funds Futures are pricing in a 50 bps rise at the May meeting.

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The good news is that the US Treasury actives curve is upward sloping, but is showing fatigue in the forward rates between 7Y and 10Y.

On the hard asset front, precious metals are up over 1% with silver and platinum leading the way.

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