{"id":764,"date":"2013-02-13T19:43:55","date_gmt":"2013-02-13T19:43:55","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=764"},"modified":"2013-09-06T21:38:16","modified_gmt":"2013-09-06T21:38:16","slug":"eleven-months-left-in-2013-what-to-expect-from-mortgage-and-housing","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/eleven-months-left-in-2013-what-to-expect-from-mortgage-and-housing\/","title":{"rendered":"WHAT TO EXPECT FROM MORTGAGE AND HOUSING in 2013"},"content":{"rendered":"

\"House<\/a>Here we are already into the halfway point of February.\u00a0 My how time flies when you are having fun.\u00a0 Now that we have one and half months of data we can start to figure out what is going on in the 2013 housing market.\u00a0 Are we picking up steam or are we losing ground.\u00a0 This is what everyone wants to know.\u00a0 One thing we do know is rates right now are on fire and this is sure to change at some point in 2013.\u00a0 After all, rates cannot stay at historic lows forever can they?\u00a0 Industry insiders hope they do.\u00a0 Loan officers have written about 8.6 million loans in 2012 which is a 34% increase from 2011!\u00a0 This is the highest total of number of loans since 2007 were things were really going crazy.\u00a0 Will these numbers continue to rise or level off.\u00a0 I think it all depends on rates.\u00a0 If rates continue to stay low there will be plenty of homeowners looking to save money by refinancing.\u00a0 Potential homeowners may also finally get off the fence and dangle their hard earned money in front of home sellers.<\/p>\n

As long as rates stay low and mortgage guidelines do not get any tighter 2013 should see as many total loan written by loan officers as the saw in 2012.\u00a0 Another element that may help the mortgage market numbers are the invention of new loan programs.\u00a0 The HARP refinance program has been an overwhelming success.\u00a0 This program has helped homeowners who have been underwater on their mortgage be able to refinance without an appraisal.\u00a0 This has really opened up the mortgage market to the next level.\u00a0 Other mortgage programs such as FHA Streamline loans have also helped in this capacity<\/p>\n

What is our prediction for mortgage rates in 2013?<\/h2>\n

It is always hard to predict the general direction of mortgage rates.\u00a0 One thing is for certain that they have been so low for so long that they are bound to go up at some point.\u00a0 It is safe to assume that later this year rates will start to go up.\u00a0 As the Fed starts to ease off their gas pedal that is sure to send shockwaves in the mortgage rate market.\u00a0 It is very possible for rate to be one or two percent higher then where they are on.\u00a0 The time is now to refinance your home.\u00a0 You need to call the experts at Riverbank Finance today (800-555-2098) before rates start to rise.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here we are already into the halfway point of February.\u00a0 My how time flies when you are having fun.\u00a0 Now that we have one and half months of data we can start to figure out what is going on in the 2013 housing market.\u00a0 Are we picking up steam or are we losing ground.\u00a0 This… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[301,306,1,308,305],"tags":[348,329,347,258],"class_list":["post-764","post","type-post","status-publish","format-standard","hentry","category-buying-a-home","category-home-affordable-refinance-program-2","category-local-michigan","category-mortgage-tips","category-refinance-2","tag-2013-home-sales","tag-2013-mortgage-rates","tag-buy-in-2013","tag-low-mortgage-rates"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/comments?post=764"}],"version-history":[{"count":6,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/764\/revisions"}],"predecessor-version":[{"id":1133,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/764\/revisions\/1133"}],"wp:attachment":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/media?parent=764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/categories?post=764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/tags?post=764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}