|
Will Mortgage Rates Increase in 2017?The general consensus is that mortgage rates will move higher in 2017 but that hasn't happened yet and the year is almost half over. When Trump surprised everyone and won the election, 10 year bond yields and mortgage rates moved higher. 10 year yields increased from roughly 1.80 percent to 2.60 percent and average 30 year mortgage rates increased from 3.40 percent to 4.00 percent. Since then, both bond yields and mortgage rates are lower and in fact, both are lower overall in 2017. This wasn't supposed to happen because the Federal Reserve is in tightening mode and has increased rates twice since December 2016. While the Federal Reserve doesn't set mortgage rates, their rate changes do affect mortgage rates and the housing market. Mortgage rates tend to move in the same direction as 10 year bond yields because the 10 year note serves as a benchmark for mortgages and many forms of credit. When the fed funds rate is increased, bond yields move higher and mortgage rates also move higher. The same process happens but in the opposite direction when the fed funds rate is lowered. The Fed is expected to increase the fed funds rate two more times in 2017 and those rate increases will put more upward pressure on bond yields and mortgage rates. Will two more rate hikes actually produce higher mortgage rates? We believe so. Don't be alarmed though -mortgage rates won't move much higher from current levels. 30 year mortgage rates today are still under 4.00 percent, averaging 3.92 percent. At the beginning of the year, 30 year mortgage rates were forecast to hit 5.00 percent by the end 2017. We think this is highly unlikely at this point. A more realistic forecast is for 30 year rates to move up to 4.50 percent by the end of the year, which is only 50 basis points higher than today's average rate.
Lender
APR
Rate
Cost & Fees
Notes
 NMLS # 1168 State Lic # 11309
10/23/2020
Direct Lender. Billions Funded.
NMLS # 1168 State Lic # 11309
10/23/2020
Direct Lender. Billions Funded.
NMLS # 1168 State Lic # 11309
10/23/2020
Direct Lender. Billions Funded.
 NMLS # 3030
10/23/2020
From the lender: We can close your loan in less than a month!
NMLS # 3030
10/23/2020
From the lender: We can close your loan in less than a month!
 NMLS # 3030
10/23/2020
The Better Business Bureau gives Quicken Loans and A+ for customer service.
|
RatesORama.com Average Mortgage Rates
Banking ArticlesThe Fast Guide To Hard MoneyCommercial Bank of Texas Mortgage RatesPremier Bank Texas Mortgage RatesFederated Mortgage RatesAverage Mortgage Rates Lower in 2019Santander Bank Mortgage RatesJumbo Mortgage Rates in Colorado (CO)AimLoan Mortgage Rates – Best Loan RateReview of the Best Mortgage Rates in December 2018Review of Chase Mortgage Rates December 2018Capital Bank Mortgage RatesVanKeff Current Mortgage RatesOceans Mortgage Rates TodayAimLoan Mortgage RateseClick Lending Mortgage RatesWells Fargo Mortgage Rates – 30 Year Jumbo Rate at 4.50%Triumph Bank Home Loan RatesMortgage Rates Hit Another Low for 2017Mortgage Rates Defy Forecasts and Decline in 2017Will Mortgage Rates Increase in 2017?Mortgage Rates Surge Higher, Expect Even Higher Rates in 2017Mortgage Rates Turn Sharply Higher This Week30 Year Mortgage Rates Decline 15 Basis PointsNo Fed Rate Hike is Good News for Mortgage RatesMortgage Rates Move Higher This WeekAverage Mortgage Rates Near Record Lows on BrexitBrexit Will Send U.S. Mortgage Rates to New LowsSebonic Financial Quoting 30 Year Conforming Mortgage Rates at 3.375%Annie Mac 15 Year Mortgage Rate Quoted at 2.49% with 1.94 PointsCompetitive Mortgage Rates from Capital One, N.A.Mortgage Rates Will Fall Further as Bond Yields Tumble to One Year LowsSavings Bank of Danbury Mortgage RatesWebster Bank Mortgage Rates – Current 5/1 ARM as low as 1.875 PercentLow Mortgage Rates are Still AvailableLow Mortgage Rates Will Make Homes More Affordable in 2016ArchivesBank CD RatesCD Rates Savings Accounts Mortgage Rates Banking ResourcesCD (Certificate of Deposit) Rates |