In particular, the MBA forecast predicts that the quarterly average rate for US 30-year fixed-rate mortgages will bottom at 4.9% in the fourth quarter of 2009, representing a drop of 30 basis points compared to the average rate that prevailed in the previous quarter.
In 2010, quarterly 30-year mortgage rates are predicted to rise steadily climbing up to 5.5% by midyear and up to 5.7% by the end of the year.
A stable rising trend is expected for 2011 as well, as 30-year mortgage rates are predicted to average 6.0% in the second quarter of 2011 and 6.2% in the fourth quarter.
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