Mortgage Bankers Association August 2021 Rate Forecast

By
Real Estate Broker/Owner with Hawaii Dream Realty LLC RB-19372

Mortgage Finance Forecast for August 2021

Mortgage Bankers Association August 2021 Rate Forecast

Advancing Mortgage Forecast

Our last review of the Mortgage Finance Forecast occurred in January 2021 and suggested that the historically low mortgage rates of the past were behind us.  As we move into the second quarter of 2021, the forecast holds however our mortgage rates have fallen for a third consecutive week as of  April 22, 2021, and are currently below the rate from one year ago.  The forecast has rates averaging 3.4 percent by the end of June 2021 which means that the rates we are currently experiencing need to jump in order for the average to reach 3.4 percent.  Likewise by the end of 2021, the average rate is forecast to be 3.7 percent which means rates are expected to exceed 3.7 percent for some period of time before the end of 2021.

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.

Stay Informed

Register on www.invest808.com  to receive the Housing Inventory Snapshot to follow the market trends.  The Housing Inventory Snapshot is also posted to our blog however in order to receive the monthly trends you must register on the website.

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.

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

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.

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

eFax: (866) 405-4274 

Skype: theresa.harden
Oovoo: hawaii_realtor

Waikiki Sales Office
2463 Kuhio Ave. C1
Honolulu, Hawaii 96815

Search for Oahu Real Estate For Sale www.Invest808.com

Oahu Property Management Services www.OahuRentalServices.com

Comments (2)

Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Theresa!

As we move into the second quarter of 2021, the forecast holds however our mortgage rates have fallen for a third consecutive week as of  April 22, 2021, and are currently below the rate from one year ago.  The forecast has rates averaging 3.4 percent by the end of June 2021 which means that the rates we are currently experiencing need to jump in order for the average to reach 3.4 percent.  

Apr 26, 2021 04:21 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good evening Theresa and thank you for the valuable mortgage forecast info

Apr 26, 2021 07:07 PM