Mortgage Rates are expected to rise to above 5% in 2014, and then increase to 5.5% by the end of 2015.
In an article by The Motley Fool, predictions are outlined for mortgage rates to rise in 2014.
“We expect mortgage rates will increase above 5 percent in 2014 and then increase further to 5.5 percent by the end of 2015,” said Jay Brinkmann, MBA’s Chief Economist and Senior Vice President for Research and Education in a press release. “As a result, mortgage refinancing will continue to drop, and borrowers seeking to tap the equity in their homes will be more likely to rely on home equity seconds rather than cash-out refinances.”
Interest rates are at historic lows
Interest rates have been at historic lows for a lengthy time, and they’ll go up again.
If you are thinking about purchasing a home or refinancing, and you would like to take advantage of historic low mortgage rates, please contact us. We would appreciate the opportunity to help you.
The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
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