August 18, 2019

How low can they go?

No one has a crystal ball that can accurately forecast where mortgage rates will land by the end of this year. Yet many real estate pros feel good about rates remaining low or even dropping further.

Last November, I asked 10 respected industry experts for their mortgage rates predictions for 2019. Interestingly, most agreed that 30-year fixed rates would average 5.5% and 15-year fixed rates would average between about 4.5 and 5.0% by mid-2019. Turns out that rates dropped a lot more than these and most other experts expected. As of this writing, the 30-year rate is just below 4.0%; the 15-year rate is around 3.30%.

Now, in an updated article for The Mortgage Reports, I've asked many of these same pros (and a few new ones) for their predictions on rates through the end of the year. Take a look at their projections for 30- and 15-year fixed-rates, which may help you make a more informed decision about getting a mortgage loan in the weeks and months ahead.