Mortgage Rates Could Trend Upward Through 2020 โ˜˜ Hoey Team โ˜˜ eXp Realty

Dated: December 16 2019

Views: 19

A humming economy and a halt to Federal Reserve interest rate hikes—at least in the immediate future—are helping to push mortgage rates higher. With economic expansion expected to continue into the new year, the 30-year fixed-rate mortgage, which increased to an average of 3.73% this week, could see steady inclines over the long haul, Freddie Mac reports.

Mortgage Rates could creep up in 2020 depending on what the FED will do

“With Federal Reserve policy on cruise control and the economy continuing to grow at a steady pace, mortgage rates have stabilized as the market searches for direction,” says Sam Khater, Freddie Mac’s chief economist. “The risk of an economic downturn has receded, and, combined with the very strong job market, it should lead to a slightly higher rate environment.”

Mortgage rates reached their lowest point of the year in early September, hitting 3.49%, but they’ve been inching upward since. “Often, while higher mortgage rates are deleterious, improved economic sentiment is the reason that these higher rates have not impacted mortgage demand so far,” Khater adds.

Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 12:

  • 30-year fixed-rate mortgages: averaged 3.73%, with an average 0.7 point, rising from last week’s 3.68% average. Last year at this time, 30-year rates averaged 4.63%.
  • 15-year fixed-rate mortgages: averaged 3.19%, with an average 0.7 point, rising from last week’s 3.14% average. A year ago, 15-year rates averaged 4.07%.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.36%, with an average 0.4 point, down from 3.93% last week. A year ago, 5-year ARMs averaged 4.04%.

Article content from NAR (National Association of Realtors) Realtor Magazine and from other sources including Freddie mac.   If you have questions on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can answer your questions, and are always available to help.

Hope everyone had a wonderful December so far as we all get ready for Christmas and New Year, Here is our Thanksgiving Market update Report for Southwest Florida and beyond; Click Here.

We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team โ˜˜ or visit HoeyTeam.Net anytime.

Here is our informational Southwest Florida Website โ˜˜

Barry is a CLHMS see here how we can help with higher-end properties.

Please visit our Hoey Team โ˜˜ Luxury Home Market Page Here

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  โ˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team โ˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team โ˜˜ at (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim โ˜˜

Blog author image

Barry & Kim, Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜

"Your Real Estate Concierge" If you are looking for a REALTORยฎ or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

Latest Blog Posts

๐Ÿ”” Some Nonbanks Raised Conforming Loan Limits to $625K ๐Ÿ“ˆ Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet.  Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –

Read More

๐Ÿ“ข New Record: Home Prices Rose 19.9% in July ๐Ÿ“ˆ ๐Ÿก Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

A price increase of almost 20% year-to-year is unheard of – until now.  Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.WASHINGTON (AP) ;

Read More

๐Ÿ“ฃ 8 Experts: Sky-High Housing Prices Wonโ€™t Fall ๐Ÿก Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low.MCLEAN, Va. –

Read More

๐Ÿšจ September 2021 ๐Ÿ“ข Just Released Market Report for Naples Area with information for all of Southwest Florida โ˜˜ Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ SW FL ๐ŸŒด

Hello,Barry & Kim with the Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ hope that you and yours are doing good; wherever you are located at this time.Hot off the press 

Read More