Mortgage rates floored experts in 2019. Those that had been predicting 5% and higher for the year watched rates drop below 4% and then to historically low levels in the 3's. But will that trend continue in 2020? According to most experts — the answer is yes. Mortgage rates are generally predicted to stay at or below 4% in 2020. Though the ten experts we spoke with had a wide range of forecasts, from 2.8% to 4.5% for a 30-year fixed-rate loan.
You can see all our mortgage rate expert forecasts here:
Of course, it's never guaranteed that rates will follow predicted trends. If recession fears fade or trade wars improve, mortgage rates could rise. And factors like the 2020 presidential election could have unpredicted effects on interest rates.
So as always, if you see a favorable rate, it's probably a good time to lock. Rates probably won't go. much lower than they are now, so locking a mortgage rate in early 2020 is a smart move. Get you customized rate quotes at:
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