American mortgage rates edge up during 2014Forecasts for the next twelve months suggest activity levels will rise across most regions of the USA real estate sector as will the cost of residential property in North America. The results of research conducted by real estate firm Zillow indicates that American home mortgage rates will build to around 5 per cent during 2014. The cities that are likely to see increased demand for housing include Salt Lake City, Miami, San Diego and Seattle. As demand grows in these locations house prices will continue to rise. Home finance deals with American mortgage companies will become easier to access throughout the next twelve months as the interest rate begins to increase lenders are expected to relax lending criteria in order to compete for a larger share of the home buying public.
The rate of home values growth during this year has hit 5 per cent on a national basis while some markets have experienced price growth of more than 20 per cent. The rate of price growth across the USA real estate market as a whole is expected to slow to around 3 per cent in 2014.