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Will You Be Able to Get a Mortgage in 2018?

Posted by:  Hancock Mortgage Partners, LLC
2018-01-21 20:01:25

Information credited to Yahoo Finance

You likely won't have to worry about getting approved by a lender. NerdWallet reported in early 2017 that the average approval rate of mortgage application is 88.2 percent nationwide, based on 2015 data. The more important concern is being approved for the price you want to purchase at, with an interest rate you can afford to take on. Not to mention, you want a lender you're comfortable working with for the next 30 years.

Here's what you can expect from the mortgage industry in 2018.

Mortgage Interest Rates

While mortgage interest rates rose in 2017, hitting a national average of 4.44 percent in March, they fluctuated downward and closed the year at 4.15 percent, according to a weekly survey of lenders by Bankrate.com.

Read More at: Yahoo Finance

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