As Mortgage Rates Kick Off 2015 at 20-Month Low: Borrowing costs moved even lower this week, with the 30-year fixed-rate mortgage
averaging 3.73 percent, its lowest average since May 2013. “Meanwhile, the Fed minutes indicated ongoing discussion regarding the timing of the first rate hike.” Many housing economists have predicted that mortgage rates will rise sometime this year, with the 30-year fixed-rate mortgage likely reaching the upper 4 percent or 5 percent range by the end of the year. Mean while the Interest-only loans, once blamed for the subprime mortgage crisis, are gradually re-emerging. But the product has changed somewhat, which may ease some of the industry's fears about their comeback, read more.
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