Mortgage Bankers Association May 2016 Rate Forecast

By
Real Estate Broker/Owner with EXIT Real Estate Associates RB-19372

Click Here to View the Mortgage Bankers Association May Rate Forecast

MBA Mortgage Finance Forecast for May 2016

As we approach the middle of Q2 for 2016, the 30-year fixed rate mortgage remains on a steady and methodical upwards trend as previously forecasted. Mortgage Bankers Association is staying consistent and that upward trend is forecasted to continue through the remainder of Q2 and the remainder of 2016. The quarterly rate is on par with the forecasted 2015 annual rate, and in order to close out the 2016 annual forecasted rate in line with the 2015 annual average rate, the average annual rate must increase slightly to compensate for the lower average rates from Q1. At present the quarterly average rate for the current quarter is forecasted to remain below the final quarter of 2015 but we can anticipate that the summer market will push rates higher validating the forecast.

We do not have much new to say at this point other than to repeat what we have been observing. Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages have increased at a slow and almost predictable rate that is likely to persist. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average.

So what do these rates mean if you are seeking a Veteran's Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

Posted by

Aloha and Mahalo,

Theresa Harden
Principal Broker e-PRO, SFR, Realtor

Direct: (808) 223-0429
Office: (808) 735-2221
Toll Free (866) 800-7250
Windward Oahu (808) 234-5880

eFax: (866) 405-4274

Skype: theresa.harden
Oovoo: hawaii_realtor

EXIT Real Estate Associates
Waikiki Sales Office
2463 Kuhio Ave. C1
Honolulu, Hawaii 96815

Search for Oahu Real Estate For Sale www.ExitRealtyHonolulu.com

Oahu Property Management Services www.OahuRentalServices.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Groups:
EXIT Relocation Network
Hawaii Real Estate Professionals
Tampa Bay Real Estate & Home Staging
EXiT Realty Rainers
Maui Lifestyle
Tags:
mortgage bankers association may 2016 rate forecast

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,825,360
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

How would you say you did overall? I hope everything is going well! Love and light!

Jun 25, 2016 05:00 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
385,665

Theresa Harden

PB SFR e-Pro Realtor
Ask me a question...
*
*
*
*
Spam prevention

Additional Information