Mortgage Interest Rates: Where Are They Headed? Posted: 01 Jul 2013 04:00 AM PDT
When recently asked, Zillow’s director of Mortgage Marketplace, Erin Lantz suggested:
In Bankrate.com’s Mortgage Rate Trend Index last week, 20% of the experts said rates would go up this week, 30% said rates would go down and 50% said they would remain unchanged. What about going forward?Doug Duncan, chief economist for Fannie Mae recently addressed where mortgage rates may eventually end up:
Why wouldn’t the Fed be troubled? They have artificially kept rates low in order to stimilate the economy. As economic indicators begin to show signs of a recovery, the stimulus will be pulled back and rates will rise. Frank Nothaft, Freddie Mac’s VP and chief economist confirms this:
Buckle in!! The rollercoaster ride will probably continue. |
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July 1, 2013