Mortgage Rates – Where Are They Headed?

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Mortgage rates have climbed almost 25% in the past quarter, which is forcing analysts to revise their projections for 2014. Above you’ll see a sample of respected approximations of where analysts think mortgage rates will be one year from today. What’s important to remember is that, while rates seem high in comparison to past quarters, these numbers indicate historic mortgage rate lows. According to the chart below, you can see the pattern of the 30-year Fixed Rate Mortgage over 40 years.

John Inzeo, Vice President of Wisconsin Mortgage Coporation, states he expects interest rates to increase to 4% in Wisconsin by the end of the year, which will affect how much home someone can afford. No one knows for sure where rates will be one year from now, but given these expert’s opinions and the general health and growth of the economy and housing market, it is likely that rates will continue to rise.

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Categories: Home Buying, Home Selling, Mortgage, Real Estate News

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