San Diego, CA (PRWEB) December 12, 2013
LoanLove.com is a borrower advice website that is dedicated to helping home loan borrowers find a loan that they will love. It explains, and sometimes avoids altogether when possible, much of the complicated and stuffy professional language used in the mortgage industry and instead provides detailed advice and information in a down-to-earth, concise and often entertaining way. The website seeks to empower borrowers by providing them with helpful first class knowledge, valuable resources and connections to top rated industry professionals. Because of this, LoanLove.com has become a trusted destination for current news and expert loan advice. One of the recent articles posted on this website provides those who are looking at applying for a loan sometime soon with a mortgage interest rates forecast for 2014.
The Loan Love Mortgage Interest Rates Forecast For 2014 explains, “Things are looking up, at least as far as mortgage rates are concerned as we head into 2014 and even beyond into 2015. Just how far up? The Mortgage Bankers Association experts are predicting in their mortgage interest rates forecast for 2014 that interest rates for a 30-year fixed-rate mortgage are likely to creep pass the 5 percent mark next year and then keep right on trekking upward, with the MBA predicting that rates are likely to climb as high as 5.3 percent by the end of 2015.”
The article goes on to explain that while Loan Love mostly agrees with the MBA’s forecast that rates will see a moderate upward trend through 2014, it will not be surprising if rates stay around the 5.1 to 5.2 percent range as 2015 draws to a close. The article warns that any forecast predicting a steady one directional trend will likely be quite out of line with the mini-roller coaster ride mortgage borrowers have had to deal with in the past year. The article explains that while 2012 was a fairly tranquil year with only slight fluctuations, 2013 was an entire different story. 2013 saw rates reach record lows only to be upset by some of the fastest increases in history. A lot of this volatility has to do with the Federal Reserve and its Bonds Buying Program.
The Loan Love article explains, “We aren’t going out on much of a limb with our mortgage interest rates forecast by predicting rates are soon going to reach 4.5 percent on their way to the 5 percent mark—and beyond—that we are expecting for 2015. As the economy continues to slowly improve, the Federal Reserve will taper its $85-billion per month bond-purchasing program beginning in early 2014 and likely halt it altogether by September 2014. The Fed’s bond-buying program has been keeping mortgage rates down, but the Fed has hinted in recent months that it plans to wind down the program.”
For the complete mortgage interest rate forecast for 2014, please visit LoanLove.com.