Where will 30-year Mortgage Rates be in 12 months?
I can’t tell the future, so answering this question is only going to be a projection.
Fortunately, I can ask a number of other experts for their point of view, and avoid being the only person trying to predict the future.
Fannie Mae, the Mortgage Bankers Association (MBA) and the National Association of Realtors (NAR) all give regular porjections as to where they think mortgage rates are going.
Let’s see what they think.
So the projections are higher than today’s rate and getting higher each quarter, which seems reasonable.
If you take a look at the following chart, you’ll see that these projections aren’t unreasonably high.
The projection is that we are likely to see gradual increases in mortgage rates over the next year.