fbpx

Home Buying in 2021

September 21, 2020
Posted in Programs
September 21, 2020 derekevansteam

Not quite ready to buy a home and worried you’re missing out on historically low rates? If your not-so-distant future plans involve buying a home, fear not. Rates should stay favorable for a while.

Both Fannie Mae and the Mortgage Bankers Association (MBA) forecast that rates should remain near historic lows through 2021. In fact, the average prediction is that rates will stay close to 3.0% through next year. Total mortgage origination is forecasted to decrease through 2022, but purchase loan origination is actually expected to climb. That’s because most homeowners that hold a mortgage, have already taken advantage of today’s low rates through refinancing.

 

If you’re just starting your home buying journey, download our Fairway Now app to use calculators and run loan scenarios. Plus check out our home buying guide!