Have Mortgage Rates Hit Bottom?

by admin on January 18, 2011

According to the New York Times, mortgage rates were lower in 2010 than in the previous six decades—but that may end in 2011. From the article:

The Mortgage Bankers’ Association, a trade group, predicts that 30-year fixed rates will inch up to 5.1 percent by the end of 2011 and reach 5.7 percent in 2012. In a slightly more optimistic prognosis for homeowners or buyers, Frank E. Nothaft, the chief economist of Freddie Mac, wrote in an annual trend forecast on Dec. 6. that “while some rise in fixed-rates is expected, 30-year fixed-rate loans are likely to remain below 5 percent” throughout 2011.

Read the full article here.

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