Mortgage Rates Just Jumped Over 4%,  now what?

Last week, mortgage interest rates jumped over the 4% mark for the first time this year according to Freddie Mac’s Mortgage Market Survey.

In an article in Housing Wire, a Bankrate analyst explained:

“Mortgage rates rocketed higher following a stronger than expected monthly employment report. The good news on the job front further solidifies the notion that the Federal Reserve will likely begin raising interest rates soon, perhaps in the third quarter of this year.”

This is the same type of commentary we heard back in the spring of 2013 when the talk of the Fed possibly raising rates caused mortgage interest rates to surge by a full percentage point from the end of April through the end of June of that year.


No one knows for sure. However, Fannie Mae, Freddie Mac, the Mortgage Bankers Association and the National Association of Realtors are each calling for rates to continue their upswing over the next six quarters.

Here is a chart comparing 2013 to this year:

Mortgage Rate Spike Comparison | Keeping Current Matters


Though no one can definitely say where rates will be six months from now, most experts believe they will be higher. If you are thinking of buying your first home or are considering a move up to the house of your family’s dreams, now may be the best time to do it.

405ea68e a673 42e2 befc d1a5c7f79fcc 180b511f 152e 43c7 a9ad 9ca0dfdaa129 9f8bde8a c539 4329 b89c 96b0f16480af 308fb2af 1679 4d36 be05 265afad57543 c32acaed 8a9d 4cf6 bd8c 2cd7d6b600f7 e4c260f7 6dce 4e66 82f9 d1d36b33f428 02dd0731 5d79 4588 b60a 5fd885914182 7c86a08b f2c0 4f95 9c4e d24206b6ca96 2490fd85 1b6b 4c92 8807 203542ec3853 b6ac2076 9a5c 4a65 8c8a fa844d4e804b 2a77db4b 3961 498d 9fef 68daf84d0d23 1c671691 6904 410b b600 a6a02f17520f bfaafeb1 8dc4 497d b70a a54429d11e8a 623b8b2b 3c4d 4928 a643 42719b666497 742a2cab 4822 4548 88bf 1a8176bf4982 bd8b4359 2da0 41c3 8f5f 598eb3869422 90e78aa2 4394 43e2 8843 ba7803ae59ff 9324e5fe b8d2 4919 9fd0 e9b9dff81375 496ae09e 624c 4f7c 8613 6baa38c6c178 9575d545 be92 4dc9 afe4 64adbaae353d 79096656 40c0 4f0d bc4a e5df25692c28 93710c3c e8b2 4b92 967e 9837f3864b88 a82e47a0 8dfe 43d1 aa00 52fd8e5b6ea5