By Patrick follow 2012 Nov 8, 2:36pm 640 views 1 comment
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MarketWatch)After reaching record lows in 2012, mortgage rates are expected to creep up slowly in the year ahead, the Mortgage Bankers Association predicted on Tuesday. Rates on the 30-year fixed-rate mortgage are expected to average 3.8% in the fourth quarter of 2012, rising to 3.9% in the first quarter of 2013 and eventually rising to an average 4.4% by the fourth quarter of next year, the MBA said. The mortgage is expected to average 4.1% for all of 2013. Granted, in these times, mortgage rates are increasingly difficult to predict. So take this forecast with a grain of salt. Last...
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Don't worry, the FED will initiate operation bazooka-twist and buy up every single MBS for the next 100 years to come and cut the central lending rate to -2% to bring effective mortgage rates to 0.01% so that everybody can "own" a million dollar property.