Will Low Mortgage Rates Continue through 2021?

Low Interest rates in 2021? > Christopher Breceda, Las Vegas Realtor - Will Low Mortgage Rates Continue through 2021?	 February 18 2021

With mortgage interest rates hitting record lows so many times recently, many are asking me if we’ll see low rates continue throughout 2021, or if they’ll start to rise.

Recently, Freddie Mac released their quarterly forecast, noting:



“The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest rate environment is projected to continue through this year. We expect interest rates to average below 3% through the end of 2021. While this is a modest rise from 2020 averages, the recent vote by the Federal Reserve to keep interest rates anchored near zero should keep rates low.”

As shown in the graph below, Freddie Mac is projecting low rates going forward with a modest rise that’s expected to continue through 2022.

 > Christopher Breceda, Las Vegas Realtor - Will Low Mortgage Rates Continue through 2021?

Freddie Mac isn’t the only authority forecasting low rates with a slight rise. Fannie Mae, The Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) also anticipate low rates with a small increase as 2021 continues on. Here’s the quarterly breakdown of their projections and how they’re expected to play out over the next year:

 > Christopher Breceda, Las Vegas Realtor - Will Low Mortgage Rates Continue through 2021?

What does this mean for you as a buyer?

Low mortgage rates are creating an outstanding opportunity for current homebuyers to get more for their money while staying within their budget. As the economy gets stronger and we recover from the challenges of 2020, it’s natural for rates to potentially rise in response to a healthier economy. Mark Fleming, Chief Economist at First American, reminds us:

Rising interest rates reduce house-buying power and affordability, but are often a sign of a strong economy, which increases home buyer demand. By any historic standard, today’s mortgage rates remain historically low and will continue to boost house-buying power and keep purchase demand robust.”

With low rates fueling activity among hopeful buyers, there are a lot of people who are highly motivated and looking for homes to purchase right now. In this environment, it can be challenging to find a home to buy, so working with a local real estate agent such as myself, will be key to your success if you’re thinking of buying too. Working with a trusted real estate professional to navigate the process while rates are in your favor might be the best move you can make.

Bottom Line

If you’re ready to buy a home, it may be wise to make your move before mortgage rates begin to rise. Contact me to discuss how today’s low rates can create more opportunities for you this year and to stratigize your next (and best) options.


Stay Safe & Stay Vegas Strong ~


Christopher Breceda REALTOR®

Analyst and Founder of New Life West Vegas ERA Brokers Consolidated - Distinctive Properties Agent

Mobile (760) 613-4788 

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