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Mortgage Bankers Association November 2016 Rate Forecast
Click Here to View the Mortgage Bankers Association November Rate Forecast
The November 2016 Mortgage Bankers Association rate forecast for the 30 year fixed rate mortgage is showing a slight upward push in the average mortgage rates for first quarter of 2017 otherwise the rates remain unchanged from past month's forecast. The resulting effect to the annual average rates is a corresponding upward push by a mere tenth of a point for 2016. Otherwise, looking more long term at the annual average rate, the rates remain unchanged until we reach 2019 which takes a slight downward tick also by one tenth of a point.
Overall this forecast supports that the 30-year fixed rate mortgages shall meandering upwards at a slow rate while the out year rate forecast is more aggressive. Given the small rate of increase in the average mortgage rates, the rates will remain at historically low levels for the near term which is expected to have a minimal impact on the real estate market particularly with the nation wide housing shortage that we are experiencing. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.
As such, if you are looking ... more

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