{"id":1688,"date":"2021-05-05T13:23:40","date_gmt":"2021-05-05T13:23:40","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1688"},"modified":"2021-05-05T13:23:40","modified_gmt":"2021-05-05T13:23:40","slug":"interest-rates-expected-rise-next-year","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/interest-rates-expected-rise-next-year\/","title":{"rendered":"Are Interest Rates Expected to Rise Over the Next Year?"},"content":{"rendered":"
\"\"

Are Interest Rates Expected to Rise Over the Next Year?<\/p><\/div>\n

So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there\u2019s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here\u2019s a look at what several experts have to say.<\/p>\n

Danielle Hale,\u00a0Chief Economist<\/em>,\u00a0realtor.com<\/em><\/a>:<\/h5>\n

\u201cOur long-term view for mortgage rates in 2021 is higher.\u00a0<\/strong>As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .\u201d<\/em><\/p><\/blockquote>\n

Lawrence Yun,\u00a0Chief Economist<\/em>,\u00a0National Association of Realtors<\/em>\u00a0(NAR)<\/a>:<\/h5>\n

\u201cIn 2021, I think rates will be similar or modestly higher<\/strong>\u00a0. . . mortgage rates will continue to be historically favorable.\u201d<\/em><\/p><\/blockquote>\n

Freddie Mac<\/em><\/a>:<\/h5>\n

\u201cWe forecast that mortgage rates will continue to rise through the end of next year<\/strong>. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.\u201d<\/em><\/p><\/blockquote>\n

Below are the most recent mortgage rate forecasts from four top authorities \u2013\u00a0Freddie Mac<\/em><\/a>,\u00a0<\/em>Fannie Mae<\/em><\/a>, the\u00a0Mortgage Bankers Association<\/em>\u00a0(MBA)<\/a>, and\u00a0NAR<\/a>:<\/p>\n

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Mortgage Rate Projection<\/p><\/div>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re planning to buy a home, purchasing before mortgage interest rates rise may help you\u00a0save<\/a>\u00a0significantly over the life of your home loan.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

There\u2019s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here\u2019s a look at what several experts have to say. Finish Reading Are Interest Rates Expected to Rise Over the Next Year?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[15,10,18,16,27,91,40,309,280,228,63,20,12,48,28,54,47,19,6],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1688"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1688"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1688\/revisions"}],"predecessor-version":[{"id":1691,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1688\/revisions\/1691"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}