Will Interest Rates Go Up In 2014 - LoanLove.com Gives Its Forecast
SAN DIEGO, Dec. 19, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that is dedicated to helping home loan borrowers find a loan that they will love. It explains, and sometimes avoids altogether when possible, much of the complicated and stuffy professional language used in the mortgage industry and instead provides detailed advice and information in a down-to-earth, concise and often entertaining way. The website seeks to empower borrowers by providing them with helpful first class knowledge, valuable resources and connections to top rated industry professionals. Because of this, LoanLove.com has become a trusted destination for current news and expert loan advice. In helping their many valued readers, LoanLove.com offers a new article that help borrowers predict the patterns in which mortgage interest rates will go. Will interest rates go up in 2014? The article gives a definite answer that helps those looking to apply for a home mortgage loan in 2014.
The article begins by giving a foreboding forecast to loan borrowers: Mortgage rates will continue to climb throughout the year of 2014. According to a new forecast report from the Mortgage Bankers Association interest rates for a 30-year fixed-rate will more than likely surpass the 5 percent mark sometime towards the fourth quarter of 2014 and still continue to continue to escalate even further afterwards. Based on current trends in the market, the MBA predicts that interest rates will climb as 5.3 by the end of 2015. The Loan Love article also provides their own forecast on 2014's interest rates:
"We have to agree with the forecast for a moderate upward trend through 2014, though we won't be surprised to see rates stay closer to the 5.1 to 5.2 mark as 2015 draws to a close. Any mortgage interest rates forecast that has rates moving steadily in one direction is a far cry from the mini-roller coaster ride home buyers and those seeking to refinance have dealt with over the past year. After a fairly tranquil 2012, when 30-year-fixed-rate mortgages fluctuated ever so slightly here and there to average about 3.66 percent, 2013 was another story."
While 2012 was a rather quiet year with interest rates floating around in thee 3.4-3.5 percentage area, 2013 was much different as loan borrowers were struck with ever-changing interest rates that first began in July and spiraled out of control towards the end of the year. This initially started with the announcement from the Federal Reserve stating that they will withdraw funding of their bond purchasing program, a program created to keep low interest rates in place that many loan borrowers were experiencing. The Fed has been hinting at the end of their bond purchasing program for the past few months, with speculation that it will end altogether around September 2014.
However, even with the interest rates soaring to new high points, loan borrowers shouldn't lose all hope. The fact is, interest rates are still affordable as they are now for most loan borrowers. Loan Love concludes the article by assuring loan borrowers with advice which says, But overall, 2014 should still be a healthy home-buying year, with plenty of opportunities to purchase as well as lower down payments, and interest rates most buyers will still find very palatable. With interest rates almost certainly to rise as the months tick by, now is the time to get off the fence and look into financing a new home purchase.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
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