{"id":17061,"date":"2020-03-19T13:22:04","date_gmt":"2020-03-19T13:22:04","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17061"},"modified":"2020-03-19T13:31:29","modified_gmt":"2020-03-19T13:31:29","slug":"will-mortgage-rates-stay-low","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/will-mortgage-rates-stay-low\/","title":{"rendered":"Will Mortgage Rates Stay Low?"},"content":{"rendered":"

Will Mortgage Rates Stay Low?<\/h2>\n
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Just how long mortgage rates will remain at rock-bottom percentages is tough to judge, but don\u2019t be surprised if they do what they did last week and rise again over the next few weeks.<\/p>\n

Despite the effects of the coronavirus on already turbulent financial markets and concerns of a recession, mortgage rates will \u201clikely stabilize but remain low for now,\u201d predicts Joel Kan, associate vice president of economic and industry forecasting at the Mortgage Bankers Association.<\/p>\n

Last week, the 30-year fixed-rate mortgage rose to 3.36%, after a record low average of 3.29% during the week ending March 5, Freddie Mac reported.<\/p>\n

\u201cI was disappointed it went up,\u201d Lawrence Yun, chief economist for the National Association of REALTORS\u00ae, told The New York Times<\/em>. The lower rates can help homeowners lower their monthly payments at a time when some may be out of work due to the outbreak, he continued.<\/p>\n

Mortgage rates typically follow those of 10-year Treasury bonds, which have been pushed to record lows over recent weeks. Yet, mortgage rates didn\u2019t follow suit last week.<\/p>\n

Could lenders be facing a capacity issue that is preventing rates from going lower? Mortgage brokers reported a slew of customers flocking to refinance their loans after rates sank to record lows. Some lenders said they actually ended up having to charge higher rates just to slow demand.<\/p>\n

Nevertheless, mortgage rates remain at \u201cextraordinary levels,\u201d <\/a>Sam Khater, Freddie Mac\u2019s chief economist, said last week in a statement. A year ago, 30-year rates averaged 4.31%.<\/p>\n

The Fed announced in an emergency meeting on Sunday that it would buy up at least $500 billion in U.S. Treasury bonds and $200 billion in government mortgage-backed securities over the coming months. Economists predict this will help support the surge in refinancings and stabilize mortgage-backed securities, which could help mortgage rates then move lower.<\/p>\n

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\u201cThat would stabilize rates and bring them back down lower,\u201d says Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cThey\u2019ll [likely] go back to the low 3% [range]. Might we see rates below 3%? I wouldn\u2019t rule it out.\u201d<\/p>\n

Ali Wolf, chief economist at Meyers Research, a national real estate consulting firm, expects rates to fall into the 3.1% to 3.2% range within the next few weeks, but stay within or under the mid-3% range through the rest of the year,<\/p>\n

\u201cToday\u2019s low mortgage rates are equivalent, in some cases, to $30,000 off the price of a home\u201d in some of the country\u2019s priciest markets, Wolf told realtor.com\u00ae. \u201cMortgage rates are turning back time on affordability.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cAs the Coronavirus Spreads, a Question: \u2018Will Mortgage Rates Stay Low?<\/a>\u2019\u201d The New York Times (March 17, 2020) and \u201cThe Fed Slashed Interest Rates. Here\u2019s Why Mortgage Rates Likely Won\u2019t Follow Suit<\/a>,\u201d realtor.com\u00ae (March 16, 2020) Copyright NATIONAL ASSOCIATION OF REALTORS\u00ae.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Will Mortgage Rates Stay Low? Just how long mortgage rates will remain at rock-bottom percentages is tough to judge, but don\u2019t be surprised if they do what they did last week and rise again over the next few weeks. Despite the effects of the coronavirus on already turbulent financial markets and concerns of a recession, … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,9],"class_list":["post-17061","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-tips","item-wrap"],"yoast_head":"\nWill Mortgage Rates Stay Low? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/will-mortgage-rates-stay-low\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-mortgage-rates-stay-low\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-mortgage-rates-stay-low\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Will Mortgage Rates Stay Low?\",\"datePublished\":\"2020-03-19T13:22:04+00:00\",\"dateModified\":\"2020-03-19T13:31:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-mortgage-rates-stay-low\\\/\"},\"wordCount\":469,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-mortgage-rates-stay-low\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-mortgage-rates-stay-low\\\/\",\"name\":\"Will Mortgage Rates Stay Low? 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