Mortgage Rate Forecast Jan 2021 
Advancing Mortgage Forecast
The January 2021 forecast suggests that the historically low mortgage rates of the past are truly behind us. At the moment, the mortgage rates, albeit inflated slightly from the last quarter of 2020, remain favorable with intentions to stimulate demand by prospective homebuyers. The forecast of the later quarters of 2021 are each up one tenth of a point from the previous forecast while the rates continue to advance moving forward.
Historical Perspective
The mortgage rate graph depicts a steady decline during the past 40 years. The graph was from a housing and economic recovery webinar presentation prepared for the Hawaii Association of Realtors by Dr. Paul Brewbaker, a respected and renown local economist. Click Here if you would like to view a full recording of the webinar.
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VA Home Loans
So what do these rates mean if you are seeking a Veteran's Assistance or VA home loan? VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses. The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecast 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 forecast by Mortgage Bankers Association.
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