Mortgage Rate Predictions

up and down One of the most important factors in determining whether to buy a home or not, namely the mortgage rate, is also one of the most difficult to predict.  That’s because there are so many factors that play into determining the mortgage rate.  The average person looks at the changing mortgage rates and just shakes their head in frustration and confusion.

Lately the mortgage rates have been slowly rising, so of course this leaves potential buyers and investors wondering if they should buy or wait and see what will happen in several months.  Of course, several months from now, all potential buyers will be facing the same decision.  In many ways this waiting game is endless.

Still, we thought it would be helpful if we shared the professionals’ predictions for twelve months into the future.

  • Fannie Mae……..3.8 percent next quarter predicting 4.1 percent in twelve months
  • Freddie Mac…….4.1 percent next quarter predicting 4.7 percent in twelve months
  • MBA………………..4.3 percent next quarter predicting 4.8 percent in twelve months
  • NAR…………………4.0 percent next quarter predicting 4.7 percent in twelve months.

For those of you not in the know, MBA stands for the Mortgage Bankers Association, and NAR is the National Association of Realtors.

So, what do those predictions tell you?  Obviously, the pros believe that interest rates will be rising gradually over the next twelve months.  Although these predictions are not mammoth in nature, even a small increase can be the difference in tens of thousands of dollars over the life of a mortgage.

So, is it a good time to buy a home?

Yes!

Sports Relocation, Inc. Sports Relocation, Inc assist players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.