“Our mortgage rates will skyrocket,”
Chet Edwards
“Adjustable-rate mortgages (ARMs) were more strongly affected by the latest Federal Reserve rate hike this week. However, mortgage rates continue to be extremely affordable and the outlook for the housing sector appears bright.”
Frank Nothaft
“Even with rising mortgage rates over the last four weeks, 30-year fixed-rate mortgage rates remain an historical bargain. To date, contract rates for these mortgages have been below 6 percent for 31 weeks in a row, and we don't expect these rates will rise very much above 6-1/4 percent by year end.”
Amy Crews Cutts
“So far this year, fixed-rate mortgage rates have risen only slightly. Long-term mortgage rates are only marginally higher than they were two months ago.”
“Although mortgage rates ticked up this week, the 30-year mortgage rate -- apart from a brief two-week stint in March -- has stayed below six percent all year. As a result, the housing industry is likely headed for another record-breaking year.”
“Freddie Mac's own economic forecast calls for a mild and gradual increase in 30-year fixed-rate mortgage rates to about 6 percent by the end of the year. Low mortgage rates will sustain a brisk housing market, leading to record home sales and single-family construction this year.”
“If the Fed continues to raise rates, adjustable-rate mortgages will continue to get pinched. That's going to take people who are stretching to buy homes off the table.”
Daniel Jester
