2016 Mortgage Rate Projections

Trying to figure out what the rates will be doing in the upcoming year will never be an old topic, so 2016 mortgage rate projections are a hot topic right now. A look into Fannie Mae and Freddie Mac’s archive’s real that it has been several years now since the monthly mortgage rate for a 30-year fixed rate mortgage went over 5% and no one wants to see that again anytime soon. And, I won’t even mention how high rates were from 79’ through 90’. Most home buyers would prefer to the low, low rates of 2012 that were at 3.35%. The 2016 mortgage rate projects are looking good for many home buyers even while they are on the rise.

So, why are you buying a home and looking at the 2016 mortgage rate projections? If you want a home to raise a family, have more space, feel safe or have more control over your property, this year is a good time to buy. 2016 mortgage rate projections are not showing anything crazy so there is no need to panic; however, the earlier in the year you buy a home, the more you will save. And every percent helps when you’re counting interest rates.

2016 Mortgage Rate Projections

Fannie Mae, Freddie Mac, MBA and NAR are all projecting slightly different forecasts as you can see by the photo below. These are all based on a 30-year fixed rate mortgage.

2016 Mortgage Rate Projections

Who’s Right About the 2016 Mortgage Rate Projections?

There is never a right or wrong in this guessing game. The Federal Reserve cannot predict what the exact rates will be at any given time and they are the ones who control mortgage rates. Very crazy, but true. So many things affect interest rates, so it is too hard to make solid predictions about mortgage rates. Mortgage and banking experts can get close but they will never be exact.

2016 Mortgage Rate Projections Bottom Line

No matter what the rates are doing this year or next, only you will know when the time is right to buy a new home. When you are ready to take that next step, check out this full MLS access link to help you get started. And, if you need help selling your home, I can assist with that too.

This 2016 mortgage rate projections information is brought to you by: Erika Rogers – your real estate leader in St. George, UT and surrounding communities specializing in new construction, golf course communities, gated communities, 55+ adult communities, St. George luxury real estate, and foreclosures in all Southern Utah communities.

 

Also posted at: http://stgeorgeutahrealestateforsale.com/2016/02/2016-mortgage-rate-projections/

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