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Mortgage rates 2012

Posted on December 29, 2011 by Ray Williams (NMLS #216267).

So as we wrap up the year, who would have thought that we would be sitting where we are with mortgage rates?

I am sure you are wondering what will happen next year? Will it make sense to refinance? Will rates stay low so you can buy a nicer home for the same payment?

Well, based off the analysts in New York I am in contact with, I am expecting that rates will stay low for the first part of the new year. From there we could see things move up closer to 5% again as the year moves to an end. If I were to venture a guess, I would say upper 4% by YE 2012.

Why? We have potentially QE3 going down, it is an election year, the Euro Zone crisis still going on, and all this ties together based on what EU leaders do and the impact it has on inflation here. Inflation is bad for mortgage rates.

If you are thinking of refinancing, think about going from a 30 year fixed to a 20 or 15 year fixed, and if you would like to apply I will call you personally.

Happy New Year!

Ray

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