Buying a home? Act fast: Freddie Mac says rates will rise

A lot of attention has been paid to the fact that mortgage rates are expected to rise throughout 2014. As mortgage rates creep upward in this year, borrowers need remember that rates will still be historically low and nowhere near the interest rates consumers faced in the early 1980s.

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Buying a house? Mortgage rates are near a 4-year peak. over the life of the typical 30-year home loan. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate. Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing.

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People who are trying to buy their. to Freddie Mac, an entity started by Congress to help expand access to homeownership. Real estate agents and economists say rates are still low by historical.

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Mortgage rates were under 4% for all but two months for 2015 and 2016, according to Freddie Mac. But the sun appears to be setting on the sub-4% mortgage rate. Logan Pichel, head of consumer lending for Regions Bank, believes that as rates rise, more people may back down from a move-up mentality.

Freddie Mac expects the 30-year fixed mortgage rate to rise half a percentage point in 2019, and the National Association of Realtors predicts a rise of 0.4 percentage point.

Our Next Chapter. As CEO of Freddie Mac, my top priority is to capitalize on our transformation and bring us into the next chapter – ready and able to meet a rising number of new challenges in a rapidly changing environment.

Homebuyers should act now, mortgage costs will rise.. without Fannie Mae and Freddie Mac, 30-year fixed-rate mortgages–the most popular home loan in America–might become harder to find and more expensive to get. After all, investors prefer loans with adjustable mortgage rates rather than.

What Home Buyers Need to Know When Mortgage Rates Rise-Even Just a Fraction.. Is It Last Call for Low Mortgage Rates? Why Home Buyers Should Act Now;. deputy chief economist at Freddie Mac.

(Source: Urban Institute, Freddie Mac, Federal Reserve) In June, the Fed voted to raise interest rates for the second time this year. The first rate hike occurred in its March meeting , just after deciding to raise rates three months before in December 2016 .

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