Fri, 15 January 2021 | housing mortgage rates
The current low mortgage interest rate environment is projected to continue with the 30-year fixed-rate mortgage averaging below three percent through the end of 2021, according to Freddie Mac’s Quarterly Forecast.
“Despite the uncertainties of the pandemic, the housing market performed well in the second half of 2020,” said Sam Khater, Freddie Mac’s Chief Economist. “Low mortgage rates and the ability to work remotely continued to support the demand for housing, which is reflected in home sales reaching levels not seen since 2006.”
Khater continued, “Entering 2021, we anticipate a modest rise in rates that will likely affect refinance originations, which are coming off a remarkable year. We therefore forecast total originations to decline slightly to $3.3 trillion but remain strong this year.”
According to Freddie Mac’s Forecast:
Source: Freddie Mac