According to a forecast by the Mortgage Bankers Association, mortgage rates will likely rise above 5 percent in 2014 and average 5.3 percent by the end of 2015. The Federal Reserve's bond buying program that has been keeping mortgage rates low is expected to taper down in 2014, and possibly end altogether by September of next year.
30-year fixed-rate mortgages in Montana are right about at the national average of 4.33 percent this week, which is the lowest average since June . . . an excellent rate making homes more affordable and payments more manageable.
Read an article from the National Association of Realtors Daily News Magazine. Where Are Mortgage Rates Heading in 2014? - The Mortgage Bankers Association releases its forecast for the approaching new year. Find out where borrowing costs may be heading. [NAR Daily News Magazine]