The End of 3% Mortgage Interest Rates? // Interest rates have been increasing! What will this do to our housing market 2021 and what impact are we seeing right now? In today’s 2021 housing market update, I discuss what has caused interest rates to increase and what has been the negative consequences of this so far. Will rising interest rates cause a housing market crash 2021?

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For the latest real estate market 2021 update and according to the MBA today, the average 30yr fixed rate mortgage is currently 3.08%. One yr ago and rates were around 3.5%. And a decade ago, the average 30-year fixed rate mortgage was around 5% — and a decade before that it was about 7%. However, mortgage rates have been increasing this year from the record low of about 2.65% set at the beginning of January this year.

Part of the reason for the recent rise to mortgage rates is due to the 10yr US Treasury yield increasing significantly over the past 6 months. Another reason is worries of stronger economic growth that may cause inflation to increase.

This has impacted mortgage application numbers because according to the MBA’s latest report from today, total mortgage applications decreased 11% from one week ago.

Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble or do you think the housing market 2021 will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

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