Mortgage Rates Slowly Inching Up
As we enter the fourth quarter of 2021, mortgage rates are trending slightly higher than the historic lows we have been experiencing. Thirty-year fixed mortgage rates are ranging between 2.875–3.125% — still offering a great opportunity for homebuyers.
While rates have increased slightly in 2021, they are still lower than the last five years, and significantly lower than the last five decades.
Rates will continue to rise in 2021 and 2022, but Freddie Mac (Federal Home Loan Mortgage Corporation) is expecting a slow, steady rate climb. So if you’re contemplating making a move, doing so sooner rather than later will be to your advantage. With a lower mortgage rate, you’ll benefit with either a lower monthly payment on your home purchase or you’ll be able to afford more home for your money.
Talk to your Shorewest sales associate and Wisconsin Mortgage Loan officer today.