Are Interest Rates Expected to Rise Over the Next Year?
Posted by Shane Andersen on
So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.
Danielle Hale, Chief Economist, realtor.com:
“Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .”
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):
“In 2021, I think rates will be…
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