Mortgage Rates in 2015?

Where-Are-Interest-Rates-Headed-in-2015

brought to you by THE KCM BLOG

We finished 2014 with the 30 year fixed mortgage rate at 3.87% as per Freddie Mac. This is very close to the historic lows in the spring of 2013.

However, the Mortgage Bankers Association projects mortgage rates to be about 5% by the end of 2015. The website Investopedia agrees and gives some perspective on the 5% rate:

“Barring another financial and housing market implosion, and if the economy continues to improve, expect interest rates to rise in the latter half of 2015. If they do jump to the 5% range it will be a modest hike when compared to historical averages. Rates will still be far below the approximately 8.5% 30-year fixed-rates mortgages have averaged since 1971 when Freddie Mac started tracking them. Rates averaged 6% in the years leading up to the recession.”

Here are the latest 2015 mortgage rate projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors:

Interest-Rates-2015

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Before going into real estate in 2001, I worked in the medical field. Found it very rewarding helping others and decided to make a switch and help those, who want to achieve the "American Dream". As a homeowner, I know the importance of home ownership and nothing gives me more pleasure than to place those keys into the hands of a new homeowner. I look forward to helping you, with all your real estate needs.

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