May, 2021   Blog Home   Contact

John McClintock Team

Experts: Mortgage Rate Declines Won’t Last

The average for the 30-year fixed rate mortgage remained below 3% this week, but economists warn that rates in the 2% range likely won’t stick around much longer. Still, mortgage rates will continue to be historically low, and slight increases aren’t likely to spook home buyers, experts said.

“The low mortgage rate environment has been a boon to the housing market but may not last long, as consumer inflation has accelerated at its fastest pace in more than twelve years and may lead to higher mortgage rates in the summer,” said Sam Khater, Freddie Mac’s chief economist.

“Freddie Mac reported the following national averages with mortgage rates for the week ending May 13:

Source: National Association of Realtors, Realtor Magazine.

Are you active in the market looking for a Bucks County home to buy or sell? More than ever, you need expert, professional representation. Before you list your home for sale, call The John McClintock Team at 267‑759‑9518 for no obligation recommendations on pricing and an overview of our comprehensive marketing package.

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Information is deemed reliable but not guaranteed.