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Freddie Mac Sees Rates Staying Below 4% Through 2017

by UrbanTurf Staff

Freddie Mac Sees Rates Staying Below 4% Through 2017: Figure 1

Mortgage rates below 4 percent are going to be the standard, at least through the end of next year.

In its August outlook published Monday, Freddie Mac projected that long-term rates would remain below 4 percent for the rest of 2016 and 2017.

“At the current pace, we’re likely to see the mortgage market top $2 trillion in originations for the first time since 2012,” Freddie Mac’s Sean Becketti said in the outlook. “And unlike in 2012, when the market was driven largely by refinances, today’s market is more balanced between home refinances and purchases; nearly 50-50.”

The news that rates will stay low through next year likely sounds like business as usual to anyone that purchased a home in recent years. Over the past 12 months, long-term interest rates have been averaged above 4 percent for just one week.

This article originally published at http://dc.urbanturf.com/articles/blog/freddie_mac_sees_rates_staying_below_4_through_2017/11560

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