Even though the economy and the housing market have improved, economists expect more homeowners to stay put for the next decade, or even longer. That’s because the better economy has come with a steady rise in interest rates. Rates for 30-year fixed mortgages were at 4.05 percent last week, after being under 3.5 percent as recently as October, according to Freddie Mac. And with the Federal Reserve signaling further interest rate increases, economists expect mortgage rates to head toward 5 percent by the end of the year.
May 15, 2017