Mortgage Bankers Association November 2016 Rate Forecast

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

Click Here to View the Mortgage Bankers Association November Rate Forecast

Mortgage Bankers Association November 2016 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 to sell, you can benefit from stable prices and strong demand:

Check out how much your home is worth based on local home values in your neighborhood. Simply enter your address and see what is available in your neighborhood.

And if you are buying, you can benefit from historically low mortgage rates:

See available Just Listed Honolulu, Hawaii homes that are for sale right now.

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
Maui Lifestyle

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
10,158
EZ Online Mortgage
EZ Online Mortgage - Valley Village, CA
Get secure mortgage loans with EZ Online Mortgage

Hello Theresa,

Nice post, rates are only going to go up from here on out.  Current mortgage rates in California for the remainning of year may stay steady until the end of year.  However I predict the next year rates are climbing.

Nov 21, 2016 02:04 PM #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
327,276

Theresa Harden

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

Additional Information