Mortgage Rates Have Hit Bottom, Experts Say

By Kyle Chezum Updated on 12/27/2010

12/27/10  

Mortgage rates hit a historic, 70 year low in 2010, but it looks as though the downward trend is over.  The past two months have seen a steady increase in mortgage rates, up from the lowest point of 4.17% to a current level of 4.83%.  HSH Associates, an independent mortgage data publishing firm, believes that the low peak has been reached and rates should continue to increase through 2012.

The Mortgage Bankers’ Association expects rates to reach 5.7% through 2012.  Through 2011, however, rates will likely hang around the 5.0% mark.

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