Luke Chamberlin

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Why You Should ACT NOW on Low Rates

Nov 5
Category | Blog

Why You Should ACT NOW on Low Rates

In life, mortgages, and real estate, we often think about the grass being greener on the other side.

At times, we all get the impulse to push the boundaries of a great situation, hoping our risk taking will be rewarded with greener pastures or financial gains. 

2019 has brought us some of the lowest rates we’ve seen in years, and yet, it still has many potential buyers wanting to hold off until 2020 to see if they get even better. But, we’re here to tell you to ACT NOW!

A year ago, several mortgage experts predicted higher mortgage rates in 2019. Some even thought we’d see them spike into the 5’s. As we all know, that didn’t happen. Second, it goes to show you that even the experts can get it wrong, and sometimes these things can just be too hard to predict.

For 2020, a lot of those same experts are optimistic. They believe that continuing trade wars and an unstable economy will help keep rates sub-4% throughout the year. Below you can see six top agencies all having similar positive predictions. 

Agency 30-yr rate prediction for 2020
NAR 3.6%
NAHB 3.9%
MBA 3.9%
Freddie Mac 3.7%
Fannie Mae 3.6%
Wells Fargo 3.55%
Average of all agencies 3.7%

It’s still 2019 and rates still remain low, that’s why it’s important to take advantage right now! Don’t hesitate, and don’t wait. If you get a good rate quote today, your best bet is to lock now and not play the 2020 guessing game.But, let’s not forget the moral of the story here…they could get it wrong!

So, if you’re looking to buy or refinance, call us today, and don’t wait another minute!