Current Mortgage Rates ChartTable of current mortgage interest rates
Hypothekenzinsentrends und -prognose Seattle, 2016 - 2017
Freddie Mac said on 4 August that the mean interest for a 30-year fixed-rate mortgage had fallen 7 bps to 3.43%. That' good for homebuyers and mortgage purchasers in the Seattle area. How long will interest rates remain so low? What is the outlook for Seattle mortgage rates until the end of 2016 and until 2017?
Mortgage rates in Seattle, as already noted, are currently floating in the 3.4% - 3. The rates are mean rates for 30-year-old credit rates calculated from the Freddie Mac week-long poll. You' re asking for contributions from creditors across the state, the Seattle subway station included. It then compiles the mean rates presented by these creditors and publishes the results.
Diagram: Twelve-month mortgage interest rates trend. This chart was released on 4 August 2016 together with the latest results of the poll. Mortgage rates have developed over the last 12-month period in three major credit classes (5/1 ARM loans, 15-year firm and 30-year firm). The interest rates are calculated on the assumption that the borrower pays an annual mean of 0.5 points on conclusion.
The current mortgage rates shown on the far right of the chart are lower than at the beginning of 2016. That contradicts previous forecasts at the end of last year, when many analysts predicted a continuous increase in interest rates for 2016. Now, let's customize the objective and look over the skyline, with a prediction for Seattle mortgage rates.
The Mortgage Bankers Association published its latest mortgage interest outlook in July 2016, which runs until the end of 2017. These are their quarter-on-quarter forecasts for averaging 30-year lending rates, between now and the end of next year. In its July forecasts, the MBA predicts that the median 30-year home loans will increase slightly by the end of this year and increase progressively in 2017.
At that time, both companies were expecting interest rates to increase progressively over the course of 2016. But, as we can see from the diagram above, it didn't happen that way. In July, Freddie Mac also provided a mortgage interest prediction similar to the MBA view outlined above. "In addition, we have reduced our 30-year firm mortgage forecasts for 2016 (by 30 base points) and 2017 (by 50 base points) to 3.6 per cent and 4 per cent, respectively.
" This means that they are expecting higher rates on avarage for 2017 than for 2016 - but only slightly higher. The Fed, while not directly controlling mortgage rates, controls the short-term fed fund rates (which are used by governments to transfer funds). The Fed's policy may have an indirectly influencing effect on mortgage rates.
In recent years, the Fed has kept the key interest rates at 0% as part of a wider recovery programme. In an indirect way, this has contributed to keeping mortgage rates close to historical low levels. In late July, during one of their planned sessions, the Fed functionaries "decided to leave the key interest rates within a 1/4 to 1/2 per cent band".
" Well, in other words, there was no interest increase this year. A number of respondents forecast that this could adversely impact the US, including downside pressures on mortgage rates. Matthew Pointon, a real estate economics graduate at Capital Economics, does not anticipate that Brexit will have much impact on the credit markets in the future.
Is it a progressive ascent into the future? On the basis of these and other data, the Seattle mortgage rate outlook could best be described as a "gradual increase" through 2017. However, this is also only a prognosis. But the point is that we probably shouldn't anticipate mortgage rates falling much lower than they do now, and that they could go up by the end of the year.
There is something to keep in mind if you are considering buying a home or refinancing your current mortgage. If you are a Seattle Home Buyer preparation for a sale, or a Home Owner plan to re-finance? Now we can make you an immediate proposal to help you move forward. There are a wide range of credit alternatives available, both FHA, VA and traditional.
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