If you’re looking to buy a home or refinance your current one in the new year, there’s good news: Today’s low mortgage rates are expected to continue into 2020.
The average 30-year fixed mortgage rate started 2019 at 4.68 percent and steadily declined before closing out the year at 3.93 percent.19 hours ago
Will mortgage rates go down in 2020?
The company sees mortgage loan rates averaging 4.1% this year, dropping to an average of 4.0% in 2020 on 30-year fixed-rate mortgages. Total originations for both new and refinancing mortgage applications is forecast at $1.8 trillion in 2019 and $1.7 trillion in 2020.
Will 2020 be a good year?
According to a dazzling number of technology predictions that single out the year 2020, it’s going to be to be one heck of a year. In other words, the year 2020 (and 2019, and 2021) is Liebhold’s business. And he forecasts a pretty interesting world a decade from now.
Will Fed rate cut affect mortgage rates?
The Federal Reserve’s interest rate hikes can have an impact on mortgage rates, causing many prospective homebuyers to track news headlines closely. “Any small change in affordability, like rising mortgage rates, will more than likely delay their purchasing.”
Why are interest rates going down?
When interest rates go down, it becomes cheaper to borrow money, which means people and companies will be more likely to take out loans. On the other hand, if inflation is high and prices are rising too fast, the Fed might try to slow down the economy and steady those prices by pushing interest rates up.