Are Interest Rates Expected to Rise? Realty Professionals 805-473-0300

by kevinjones on May 5, 2021

in How's The Market

Are Interest Rates Expected to Rise Over the Next Year?

Realty Professionals  -  805-473-0300

20210505 KCM Share Are Interest Rates Expected to Rise?  Realty Professionals  805 473 0300

So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.

Danielle Hale, Chief Economistrealtor.com:

Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .”

Lawrence Yun, Chief EconomistNational Association of Realtors (NAR):

In 2021, I think rates will be similar or modestly higher . . . mortgage rates will continue to be historically favorable.”

Freddie Mac:

We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.”

Below are the most recent mortgage rate forecasts from four top authorities – Freddie MacFannie Mae, the Mortgage Bankers Association (MBA), and NAR:20210505 NM Eng 1 Are Interest Rates Expected to Rise?  Realty Professionals  805 473 0300

Bottom Line

If you’re planning to buy a home, purchasing before mortgage interest rates rise may help you save significantly over the life of your home loan.  For more information call Kevin Jones at Realty Professionals today 805-473-0300.

Kevin Jones, lic#01128892
Realty Professionals, lic#01892221
805-473-0300

Leave A Reply With Facebook

Pismo Beach Home Search Pismo Beach Home Values

Post by Kevin Jones

Realty Professionals 805-473-0300 791 Price Street Suite 191 Pismo Beach Ca 93449

Kevin has written 467 articles.



Leave A Reply With Facebook

Leave a Comment

Previous post: