Top
mythumbnail
Mortgage Rates in 2014: Where Are They Heading
XCL_homevaluesjpg.jpgimage_shadow.png

Mortgage Rates in 2014: Where Are They Heading

The Mortgage Bankers Association (MBA) is forecasting that mortgage rates will likely rise above 5% next year and average 5.3% by the end of 2015. That would mark a significant increase... some 50-75 basis points higher than where they are as of this writing depending on the type of loan product and borrower qualifications. How might this affect Charlotte real estate transactions? Read on.

The MBA expects that the Federal Reserve will decide to taper its $85-billion per month bond-purchasing program in early 2014 and end it altogether in September 2014. The Fed’s bond buying program has been keeping mortgage rates low. The Fed has hinted in recent months that it will soon be winding down the program and the latest October Fed minutes have put this prospect again squarely in focus.

As a result, refinancings will continue to drop, and borrowers seeking to tap the equity in their homes will be more likely to rely on home equity seconds rather than cash-out refinances. The MBA expects home purchase applications for mortgages to rise 9% next year, following expected continued home sales and price increases.

However, the MBA projects that overall mortgage originations will drop 32% in 2014, as the number of refinancing applications post a large drop in the new year due to expected rising interest rates. While refinancings make up the bulk of home applications today, that trend is expected to reverse next year. Purchase loans are expected to make up 60% of originations next year compared to about 38% this year.

Home purchase originations are expected to increase in 2014 due largely to gains in home sales and home prices. Also projected is a decline in the share of sales paid for with cash, and higher average loan-to-values on purchase mortgages, due to the rise in home prices.

Comments
Listings
3234859.jpgimage_shadow.png
FOR SALE

3 Bed

2.0 Bath

1,844SqFt

3316 Quail Ridge Lane,
Weddington, NC 28104

$300,000

Listed ByKeller Williams Ballantyne Area

MLS® #3234859 MLS® # 3234859 (Active)
3243033.jpgimage_shadow.png
FOR SALE

4 Bed

3.0 Bath

2,816SqFt

8525 Whitworth Avenue, Unit: 282,
Harrisburg, NC 28075

$300,000

Listed ByBroadstreet Realty, LLC

MLS® #3243033 MLS® # 3243033 (Active)
3249252.jpgimage_shadow.png
FOR SALE

4 Bed

2.5 Bath

2,132SqFt

8812 Gelligum Drive,
Charlotte, NC 28277

$300,000

Listed ByRE/MAX Executive

MLS® #3249252 MLS® # 3249252 (Active)
3253533.jpgimage_shadow.png
FOR SALE

3 Bed

2.5 Bath

2,245SqFt

5920 Bookbinders Lane,
Charlotte, NC 28270

$300,000

Listed ByPuma & Associates Realty, Inc.

MLS® #3253533 MLS® # 3253533 (Active)
3255180.jpgimage_shadow.png
FOR SALE

5 Bed

2.5 Bath

3,403SqFt

1313 Mallory Lane,
Waxhaw, NC 28173

$300,000

Listed ByAllen Tate Ballantyne

MLS® #3255180 MLS® # 3255180 (Active)

PAGE 1  OF  92 1 2 3 4 5 »

Categories
Recent Posts
Archive
Contact Info
Contact Info
Agent
John Walker

John Walker Realty

7900 Stevens Mill Rd, D-209
Matthews  North Carolina 28104

704-651-8817 walker.john.c@gmail.com

Contact Me
Success Stories
  • Our experience working with John Walker was most positive. His knowledge of the house buying process as well as his quick friendly responsiveness made our first home purchase experience awesome. He was absolutely great to work with in every way and we would recommend John to anyone we know who is looking to buy a home.

    The Gennusa Family, Indian Trail NC
  • John was fantastic! He helped us every step of the way to find and buy our dream house. From the beginning of our preliminary search to closing the deal he was always there for us. We were relocating from out of state and John did an excellent job of familiarizing us with Charlotte. He knows every neighborhood here.

    The Palmer Family, Charlotte NC
  • John helped us in every phase of selling one home and buying another - from deciding if this was the right time for us to sell, to helping us choose the right area and house, to the mortgage/insuring and finally moving phase. He was extremely energetic and focused on getting us what we wanted, and always seemed available to answer our questions and research the few things he didn't already know. I cannot recommend him highly enough!

    Denis and Martha, Charlotte NC
  • John was not only extremely professional but so personable as well. We are so thankful for all of his help. This was a difficult time because of the loss of our dad but John made this as easy of a process as it could have been. We now consider him a friend as well as an agent. We are blessed to have found him!

    The Ward Family, Mint Hill NC
  • John was wonderful to work with. We relocated from another state and were not familiar with the area at all. We were 100% confident and comfortable with John during the entire process. If you're looking for a Charlotte agent, John Walker is the one!

    The Robinson Family, Charlotte NC
  • John Walker was extremely helpful to me during my recent search and purchase of my new home. He was always available by e-mail and phone and responded quickly to any question I had. Being from out of state made things a little more complicated during the purchasing procedure, but John was there to help me every step of the way! I HIGHLY recommend him for all of your real estate needs.

    The Burkes, Harrisburg NC
  • John is a knowledgeable and attentive agent who worked hard to get us a house in Charlotte that fit our needs. He is really the perfect agent because he did not pressure us at all, but would respond to our questions and requests right away. He really listened to what we wanted and helped us to find a house that we love. We really think John is a wonderful agent and would happily recommend him to anyone!

    The Larson Family, Mooresville NC
  • Only five stars? My partner and I give him ten! Greg describes John as a true pro - a RealtorĀ® who is proactive in helping his clients both find the home of their dreams and then negotiate and navigate the complicated process of acquiring it. What impressed me most was his willingness to listen.

    The Osengas, Charlotte NC
  • John was extremely helpful and was quick assist us in all aspects of the search for and purchase of our new home. I highly recommend him to anyone who is looking for a home in the Charlotte, Mint Hill area.

    The Vorhies Family, Mint Hill NC
  • John acted as my buyer's agent to help me purchase this home and I highly recommend him to other buyers. Having spent his whole life here, John has deep and relevant knowledge of the Charlotte market that guided my decisions. He was able to walk me through every step of the process and help me stay a few steps ahead of the game. John also introduced me to the partners I needed to complete my purchase.

    Mr. Schmidt, Waxhaw NC
  • My wife and I are new to the Charlotte area. We started working with John months before we had even moved down here and from day one he was always super responsive and helpful while never at any point pushy. John was also extremely patient with us and would give us honest feedback on homes because he was not just trying to get us into a home, he wanted to make sure we were making the best decision.

    Keith and Leane Fochi, Charlotte NC


The data relating to real estate on this Web site derive in part from the Carolina Multiple Listing Services, Inc. IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither John Walker nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2017 Carolina Multiple Listing Services, Inc.

Last updated on Mar 24, 2017.

websitebox