Mortgage rates are lower in June, hitting a new low for the month on June 25th by pushing the 30yr fixed rate for best-case scenarios to 4.125%.
Although mortgage rates have pulled back slightly in June, experts still expect rates to rise over the next several months. So expect the longer-term trend to continue upward.
Forbes contributor, Bill Conerly, updated his forecast for 2015 interest rates and expects mortgage rates to get up to about 6% by the end of 2015.
Long-term mortgage rates get up to around six percent by the end of 2015, but that’s not deadly to the economy. The interest rate changes are not exogenous changes that will harm the economy; they are endogenous, the result of stronger economic growth and part of the automatic dampening that occurs as the economy expands.
Read the Forbes article for Mr. Conerly’s forecast: Interest Rate Forecast 2014-2015.