Mortgage Report

Mortgage Report

January 13, 2021

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By Saeed Ghaffari

 Crystal Ball Anyone?

Mortgage Report

We don’t have a crystal ball, but we can quote you from those who claim to have one and have better credentials to make the claim.  At least they economists. 

Greg McBride of Bankrates.com expects the rates to go up between .5% to .75% in early 2021.

Danielle Hale of realtor.com sees low rates continuing through the first half of 2021. “Making any kind of prediction for next year is difficult. But our expectation is that mortgage rates start the year roughly in line with where they are now, and they stay fairly low — right around 3% — for the first half of the year,” Hale says. She believes that in the second half of 2021, if access to a vaccine helps to improve the economy, rates could rise. “Mortgage rates could approach 3.4% by the end of the year,” she says.

Since we don’t have our own crystal ball, we make it up with smart calculators (excel) and great lenders with excellent rates signed up on moreandmorenetwork.com.  Moving forward, we’ll pick arbitrary loan amounts and publish payments based on applicable interest rates obtained from lenders on our site. Reader must keep in mind, the above may not be taken as a lender quote and one must contact a lender for loan cost and APR. You may visit moreandmorenetwork.com to connect with a lender for a formal quote.

Based on the projections by our economist picks of the week, if I were in the middle of a refinance or purchase of a home, I would lock my loan just to be safe.

 Above rates are courtesy of Loan America at 0 points. For APR and qualification criteria, you may connect with Loan America on moreandmorenetwork.com

Source: Times.com

Don’t forget to take advantage of our Find a Realtor page on moreandmorenetwork.com to connect with an expert in your area.

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It’s difficult to predict if this will happen. And if so, whether falling prices become offset by the federal interest rate hikes practically certain to arrive in the coming months.

The only way to know for sure is to wait until the latest rate hike sets in.

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