Where are mortgage interest rates headed?
I wish I had a crystal ball that I could gaze into and ask the question “Where are mortgage interest rates headed?” But since I don’t I will have to refer the question to the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA).
Both the NAR and MBA agree that mortgage interest rates are headed up and not down over the next several quarters. How much they are headed up depends upon whether you believe the NAR or the MBA are better at predicting interest rates.
If you are thinking about buying a house but you’re waiting for Spring Texas real estate prices to decrease, don’t wait too long. Otherwise the rise in interest rate will cost you more the decrease in price.
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Jill Wente, Realtor® with BHG Gary Greene, CRS, MCNE - (281) 804-8626
Jill Wente's hometown is Effingham, Illinois. She earned a B.S. degree in Accounting from EIU in Charleston, Illinois. Jill has been a licensed full-time Realtor with Better Homes and Gardens Gary Greene since 2003. She has been a consistent winner of the Houston Five Star Real Estate Agent award for providing quality service to clients.
