Skip To Content

    Mortgage Rates Just Jumped Over 4%. Now What?

    Last week, mortgage interest rates jumped over the 4% mark for the first time this year according to Freddie Mac’s Mortgage Market Survey.

    In an article in Housing Wire, a Bankrate analyst explained:

    “Mortgage rates rocketed higher following a stronger than expected monthly employment report. The good news on the job front further solidifies the notion that the Federal Reserve will likely begin raising interest rates soon, perhaps in the third quarter of this year.”

    This is the same type of commentary we heard back in the spring of 2013 when the talk of the Fed possibly raising rates caused mortgage interest rates to surge by a full percentage point from the end of April through the end of June of that year.

    Will We See that Same Surge in 2015?

    No one knows for sure. However, Fannie Mae, Freddie Mac, the Mortgage Bankers Association and the National Association of Realtors are each calling for rates to continue their upswing over the next six quarters.

    Here is a chart comparing 2013 to this year:

    Mortgage-Rate-Spike

    Bottom Line

    Though no one can definitely say where rates will be six months from now, most experts believe they will be higher. If you are thinking of buying your first home or are considering a move up to the house of your family’s dreams, now may be the best time to do it.

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the North Metro Atlanta area.

    Cheryl Cloud

    Cheryl Cloud NMLS# 545242


    Senior Mortgage Originator
    BankSouth Mortgage
    175 Townpark Drive, Ste 125
    Kennesaw, GA 30144
    Visit my website
    Apply for a loan
    Mobile: (404) 310-3753
    Fax: (678) 680-5677

    Let me know how I can assist you with your North Metro Atlanta mortgage needs. I am here to help!

    Contact Us Now

    Any questions, comments, or feedback