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By DAVID COOPER 1.888.616.6226 | Landlord in Las Vegas, NV

How High Will Real Estate Mortgage Rates Go in 2013? Did You Miss the Bottom Again?

David Cooper http://www.lasvegaswinner.org 702.499.7037 Rates are now up almost a quarter-point from the mid-November record low of 3.31 percent, but looking into the numbers, it’s clear that I shouldn’t be worried. Mortgage rates will be going up over the next two years—but not too fast, according to the most recent forecast by the Mortgage Bankers Association.

    The MBA expects rates to hit 4 percent in the second quarter and 4.4 percent by the end of the year. By the end of 2014, the trade group predicts rates will scooch up a bit more, to 4.6 percent. Having rates rise more than a full percentage point does start adding up to real money in a household budget. 

     An extra percentage point on a 30-year, $300,000 loan adds about $3,000 a year in payments.

  1. Las Vegas neighborhoods
    Avg. listing price
    Week ending Jan 30
    Avg. sales price
    Nov '12 - Jan '13
    Median sales price
    Nov '12 - Jan '13
    Price per sqft
    Nov '12 - Jan '13


    Name
    Amount
    w-o-w
    Amount
    y-o-y
    Amount
    y-o-y
    Amount
    y-o-y

    Summerlin South$952,025-1.8%$492,9326.3%$285,00018.8%$16120.1%
    Canyon Gate$858,9781.6%$259,00751.3%$197,60051.7%$10031.6%
    Winchester$800,7612.5%$235,47049.9%$117,40542.3%$13448.9%
    Summerlin$466,2473.4%$197,24127.1%$155,25026.7%$10022.0%
    Spring Valley$311,9321.5%$180,66425.0%$133,90021.7%$9633.3%
    Las Vegas$239,271-2.1%$217,560-5.0%$123,20042.6%$10514.1%
    Peccole Ranch$220,907-1.7%$179,5147.5%$170,00013.1%$9513.1%
    Sunrise Manor$103,1780.8%$110,53526.2%$91,00031.2%$6721.8%

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