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Is 2015 The Year Interest Rates Finally Start To Rise?

At the beginning of the year, for the last several years I hear predictions the Mortgage Interest Rates are finally going to go up, but they have not.  In fact if anything the Interest Rates are lower at the beginning of 2015 than they were at the beginning of 2014.  However, the question must be asked Is 2015 The Year Interest Rates Finally Start To Rise?

Some groups are predicting a rise in Mortgage Interest Rates in 2015 to 4.5% and some are predicting even as high as 5%.  That would be a significant rise in Mortgage Interest Rates from the well below 4% rate they are right now.  Greg McBride, chief financial analyst for finance website Bankrate.com, Expects the Mortgage Interest Rates to continue to go down at the beginning of the year, but then increase as the year goes on. 

All the predictions of rising Mortgage Interest Rates and the reasoning behind them all sound good, but the fact is we have heard plenty of good reasons why Mortgage Interest Rates were going to rise in the past, and they have done nothing but go down.  This indicates to me these high profile executives, and economist do not have any better idea of what the Mortgage Interest Rates are going to do than I do. 

One thing I do know, and that is the Feds need to be VERY careful about what they say.  The last thing we need is for a repeat of the panic Federal Reserve Chairman Bernanke created in 2013

So I will end this blog with the same question I began it with Is 2015 The Year Interest Rates Finally Start To Rise?  No matter what your answer is to this question it is, in my opinion it is just as good as the predictions of the so called experts.

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

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