SAN DIEGO, Dec. 20, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that is dedicated to empowering readers with first-class knowledge, valuable resources, and connections to top-rated industry professionals. With easy to understand language Loan Love explains some of the more detailed and in depth aspects of finding and securing the right home loan and has quickly become a trusted destination for current news and expert loan advice. Loan Love's new article provides readers with an interesting look at what's to come in terms of mortgage interest rates for 2014. This new article entitled "Mortgage Interest Rates Forecast For 2014" provides insight on this year's interest rate trends and how they will affect next year in a projected interest rates 2014 assessment.
The article begins by explaining to readers where interest rates might be headed: "Things are looking up, at least as far as mortgage rates are concerned as we head into 2014 and even beyond into 2015. Just how far up? The Mortgage Bankers Association experts are predicting in their mortgage interest rates forecast for 2014 that interest rates for a 30-year fixed-rate mortgage are likely to creep pass the 5 percent mark next year and then keep right on trekking upward, with the MBA predicting that rates are likely to climb as high as 5.3 percent by the end of 2015."
Although predictions from the Mortgage Bankers Association seem to be spot on according to the article, Loan Love concludes that loan borrowers shouldn't be surprised if interest rates wound up ending in the 5.1-5.2 percentage range area. As far as the history of interest rates go, 2013 was a chaotic year for interest rates. While interest rates in 2012 were quite calm and unchanging, 2013 saw interest rates fluctuating as these rates made some fastest increases in history. Much of these changes occurred due the Federal Reserve's plans to taper the bond purchasing program soon, a program designed to keep low interest rates afloat.
Interest rates are expected to climb further as the economy continues to grow. Loan Love states: "We aren't going out on much of a limb with our mortgage interest rates forecast by predicting rates are soon going to reach 4.5 percent on their way to the 5 percent mark—and beyond—that we are expecting for 2015. As the economy continues to slowly improve, the Federal Reserve will taper its $85-billion per month bond-purchasing program beginning in early 2014 and likely halt it altogether by September 2014. The Fed's bond-buying program has been keeping mortgage rates down, but the Fed has hinted in recent months that it plans to wind down the program."
In spite of the foreboding news, loan borrowers can still enjoy ample opportunities to purchase a home as today's interest rates are still enjoyable enough for many home buyers as rates are still relatively low. However, the rise in interest rates is imminent; Any loan borrowers planning to buy a house should do so quickly or else they may faced with heavier fees down the road as rates continue to increase month by month.
For a more thorough look into mortgage interest rate predictions for 2014, please visit LoanLove.com for the full article.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
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