Quarterly Rate Chart
It’s often very difficult to predict where mortgage rates are headed and most of the time when asked where rates are headed the best answer is “they’ll go up and they’ll go down.” In today’s market however there’s an event on the horizon that almost certainly will drive mortgage rates up- the Fed will stop buying mortgage backed securities (MBS) this spring. Buying MBSs has been an effective way to hold mortgage rates down.
Many experts are expecting rates to jump a half a point or more after the program wraps up at the end of March. Take a look HERE to see how historically low Austin mortgage rates are today. It looks like waiting to get Austin mortgage financing could be dangerous to one’s financial health!