No, it should not affect rates but hopefully will impact the amount of money available to banks to be able to loan to qualified borrowers. rates will stay steady until after the election, once sales start to increase look for a rise in interest rates, until then they should hover where they are.

Interest rates are sensitive to the market and the takeover by the Government of Fannie Mae and Freddie Mac which certainly create a wave of change in the mortgage market. I recommend you contact your local lender for more specific information on any changes in the regulations and fees and loan requirements for buyers seeking conventional financing in addition to any changes in the interest rates. At present, housing inventory nationwide continues to be high and interest rates are still at historical lows. As I advise my clients, if you find a property you want to buy and you have cash or financing, then get started as soon as possible. Good luck. Emily Medvec