Long-term mortgage rates seemed to drop lower and lower in 2020. So what do experts think will happen with rates this year?
Bankrate's chief financial analyst Greg McBride recently said that after a bumpy ride, he believes rates will end 2021 above 3 percent.
“It will be an especially volatile year for mortgage rates, with fixed rates falling to even lower lows early in 2021 on economic concerns but rebounding in the back half of the year as widespread vaccinations lead to a surprisingly strong surge of economic activity — and the inflation worries that come with it,” McBride said recently.
This line of thinking is generally in line with what other industry professionals are thinking. The National Association of Realtors predict that rates will average 3.1 percent in 2021 and the Mortgage Bankers Association pegs a higher average rate of 3.3 percent.
This article originally published at https://dc.urbanturf.com/articles/blog/what-will-interest-rates-do-in-2021/17725.
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