One Thing that Might Remain Steady in January: Rates
Interest rates are likely to remain stable at least through January and the first quarter of next year, according to the head of one industry trade group.
“Congress has a lot on their plate right now and it’ll be a challenge to put a lot of energy into things like interest rates,” National Association of Mortgage Brokers president Don Frommeyer said in a press release.
“I think that when we enter the spring months of 2014 we’ll start to see rates creep up more and the value of homes increase as well,” Frommeyer added.
“I do think that the current mortgage interest rates are reasonable, and when paired with rising home values it makes sense for interested buyers to pull the trigger on purchasing homes in the near future,” he said.