Mortgage Rates Remain Affordable, but Should Increase by the End of 2013 Posted on May 13, 2013 by socialmedia by Although mortgage rates for the 30-year Fixed Rate Mortgage (FRM) hit their all-time lows in September and October 2012, low rates continue, making house buying affordable. The Federal Reserve has been artificially holding rates down to stimulate the economy, and it has been working! The growth we have seen, especially in the last year, shows the economy is responding. HSH Associates, the nation’s largest publisher of mortgage information, recently stated, “If not otherwise manipulated, higher rates are the natural result of a growing economy, as rising demand for available credit supply and concerns about inflation allow costs to rise.” The Mortgage Bankers Association (MBA) agrees, stating “mortgage rates are expected to creep up slowly in 2013.” Here you can see a graph that shows the 30-year FRM rate each week of 2013. Rates have increased this year, spiking in mid-March, but consistently growing over the four-month time period shown. The MBA’s latest Mortgage Finance Forecast predicts that the 30-year FRM rate will be 4.3% nationally by the end of 2013, which is about .8% above our current rates. John Inzeo, Vice President of Wisconsin Mortgage Coporation, states they expect interest rates to increase to 4% in Wisconsin by the end of the year and will affect how much home you can afford. No one knows for sure where rates will be one year from now, but based on expert’s opinions and the general health and growth of the economy and housing market, it is unlikely rates will stay low for long. Return to the full Quarterly Newsletter here. Tags: Housing Market, Mortgage, Q2, Quarterly Newsletter, real estate market, real estate trends, shorewest, Shorewest Realtors Categories: Mortgage, Real Estate News Leave a Reply Cancel replyYour email address will not be published. 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Amount of the fees (if any) is dependent on your wireless service plan. × Property Notes History Notes for: 2370 N. 100th St., Wauwatosa, WI 53226 MLS #: 23156413 ADD A NEW NOTE Add Note × Property Notes History × Edit Your Property Price Tracker Tracker for W179051 N907151 County Road 187, Chippewa Falls, WI 53224 Set a Price Tracker for this property by entering your target price below. You can esily view your price trackers from your Price Tracker page. Save Price Tracker Price Tracker History Remove tracker Price Tracker for: $10,200,000 Price Tracker for: 12/21/2015 Days On Market: 62 Days Original List Price: $13,000,000 Current Property Price: $12,200,000 Remove tracker ×