Some HighlightsWhether you’re buying or selling – today’s housing market has plenty of good news to go around.Buyers can take advantage of today's mortgage
Are Interest Rates Expected to Rise Over the Next Year? Yes
Dated: May 5 2021
Views: 39
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 Economist, realtor.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 Economist, National 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 Mac, Fannie Mae, the Mortgage Bankers Association (MBA), and NAR:
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.
#hybridrealestate #hybridpcs #thehybridexperience
Latest Blog Posts
An important metric in today’s residential real estate market is the number of homes available for sale. The shortage of available housing inventory is the major reason for the-
In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer;
When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the
© BRIGHT, All Rights Reserved 