Mid America Mortgage Services

Shake Hands with Mid America Mortgage Services

Call Us Today 573-875-1100
APPLY FOR A LOAN
  • Home
  • About Us
    • Testimonials
  • FAQs
  • Meet the Team
  • Home Loan Types
    • Adjustable Rate Mortgages
    • Construction Loans
    • Conventional Fixed Loans
    • First-time Homebuyer
    • FHA Loans
    • Jumbo Fixed Loans
    • Refinance Loans
    • Renovation Loans
    • USDA Loans
    • VA Loans
  • Apply for a Loan
    • Loan Application Requirements
  • Mortgages
    • Current Mortgage Rates
    • Mortgage Comparison
  • Resources
    • Loan Calculator
    • What to Avoid When Choosing a Lender
    • What Makes Up a Credit Score
    • How to Read Your Credit Score
    • How to Improve Your Credit Score
    • Public Schools Boundaries
  • Mortgage Blog
  • Contact Us
    • Glossary
You are here: Home / Industry News / 2021 Housing Trends: Mortgage Rates, Home Prices and More

2021 Housing Trends: Mortgage Rates, Home Prices and More

February 8, 2021 By Ralph Gates

Big changes are in store for the mortgage industry in 2021. While real estate is projected to experience a massive boom this spring, what else can we expect from the year when it comes to mortgage rates, home prices, and more? Keep reading to explore various 2021 mortgage trends so you can be prepared for what lies ahead.

Home Prices Will Continue to Rise

Home prices rose considerably in 2020. While the market doesn’t expect such a sharp rise for 2021, the rise is expected to continue for the year – only at a slower pace.

This is perhaps the most important of the 2021 housing trends for people looking to sell their homes in the coming year. However, it is also of importance to those who want to purchase homes. It means, the earlier in the year you buy, the better it will be for you when it comes to getting better prices and building faster equity in your home.

More Americans will Relocate to Suburbs

Between COVID-19 and other concerns, people are fleeing large cities and heading out to the ‘burbs in bigger numbers. It’s not just large cities that are feeling the pinch of a mass exodus. Even some states, like California, where the costs of living are skyrocketing are seeing more homes stay on the market longer as people are exiting the areas for greener, cheaper pastures.

The pandemic has only accelerated the trend, which began much earlier as people are becoming claustrophobic in homes that feel too small with everyone trapped inside for the better part of the last year. The larger homes and open spaces of the suburbs have suddenly become far more appealing than the bright lights and nightlife of the big cities – especially now that many of the entertainment and events that made these cities so attractive are closed for the foreseeable future.

VA Loans Are On Fire

Another of the 2021 housing trends that is a continuation of 20202 trends is the proliferation of VA loans for military and veteran home buyers. Young military service members are accounting for many of these new VA loans as they offer more forgiving credit requirements than conventional loans and the benefit of not requiring down payments to buy.

This means that Millennials and Gen Z or Zoomers who serve in the military are ahead of many of their counterparts when it comes to purchasing homes.

We Will Continue to See Low Mortgage Rates

While early 2021 mortgage rates are at historic lows, there is no sign in sight of major upheaval to the current status quos. Ultimately, we expect the standard mortgage rate to remain quite low for the time being.

No one wants to risk another recession by raising mortgage rates prematurely and the housing markets are remaining healthy, even growing, at the current interest rates. Between pandemic and economic concerns, it looks as though no one really wants to rock the boat.

Mortgage Rates Could Inch Slightly Higher

While we do expect 2021 mortgage rates to remain low, that doesn’t mean we won’t see a rise in rates at all. In fact, they are expected to increase but only slightly. The current average mortgage rate is three percent, the predictions are an increase to 3.1 percent over the course of 2021. What this means is that if you’re thinking about buying or refinancing a mortgage for lower rates, now is the time.

The Bottom Line

While the first quarter of 2021 is expected to look much the same as 2020, we expect to see a few shifts in 2021 housing trends and 2021 mortgage rates. We’ve highlighted many of the expected trends for the year, like rising home prices, relocations to the burbs, VA loan proliferations, and continuing low mortgage interest rates.

Contact Mid America Mortgage with your questions about the mortgage and home trends for 2021 and if you are looking for a new home mortgage or to refinance your existing mortgage.

Contact Us

Filed Under: Industry News

Contact Us Today

Mid America Mortgage Services, Inc, NMLS #1142067
200 E Walnut St.
Columbia, MO 65203

Phone: (573) 875-1100

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.

Loan Calculator

"One of the main things that I loved about Michelle was she was so organized. She would meet us at any location she needed to, and to be honest she had the absolute lowest interest rate. They were always very transparent with fees so there were no surprises. Michelle was always super easy and we would always run in talk to her even it was for a few minutes. The best thing was the process was very, very smooth."

Chris and Jamie

Selling our home of 17 years and building a new home was a very emotional time for our family. We were ready for the next adventure in our lives but knew there were numerous steps involved. The search for a mortgage officer was simple, Michelle was our choice. Her guidance and knowledge made the process as easy as possible. When we had questions, she was always there to give us an answer and discuss our options. The employees of Mid America Mortgage Services, Inc like Michelle will keep us returning for our mortgage needs.

Chad and Julee

Michelle, I want to thank you for all of your efforts on the loan. I never knew how much information the needed! I appreciate your personal nature and ease of working together. Thank you for making this happen! :)

Amy

"My wife and I have moved around quite a bit with my job so we have been through the process before, but we have never had anybody help us as much as Michelle West Mid America Mortgage Services, Inc did. We needed a loan for a new construction home and they were able to help us out with all of our needs and make us feel comfortable with what we were doing moving forward. They did a good job of walking us through the paperwork to make sure that we were pre-approved for a certain amount."

Jason

"They really explained the process to us very well and made us feel very comfortable, specifically Jeanie Byland. I have never asked a question that I felt dumb about. They really wanted to educate us and have been fantastic. The interest rates changed one day and they called me to say, ‘Hey we might ought to look into refinancing your loan’. I really felt like they had our best interest at heart."

Steve

"I’m a very loyal customer at Mid America Mortgage Services, Inc. I have an addiction to building houses and designing them, and they are always right there with me every step of the way helping me get the best loan product and the best rates whenever I am ready to build. They make sure you don’t get a loan that you can’t afford. The whole process was very smooth. I would recommend Mid America Mortgage Services, Inc to anyone because they are always there to teach you, help you, and make it easy for you every step of the way."

Kate

"My family owns Tiger Ice Company. My experience with Ralph at Mid America started with Tiger Ice because we needed to expand our facility. When we went in to talk to Ralph at Mid America, he pretty much was straight up with us and told us we needed to go back to the drawing board. We came back with new numbers and a new plan, and we built the facility and everything was fine. Our dream of that would not have been possible at all without Mid America Mortgage Services, Inc and Ralph. They don’t tell you what you want to hear, they tell you the truth and that's what we weren't getting from other banks."

Andy

"I have had mortgages since 2004 in Columbia and have gone through a couple of banks, but over the last several years, the last couple of houses have been with Mid America Mortgage Services, Inc. Michelle has told us many times, 'I am not going to put you in a situation I am not comfortable with you being in, regardless of what it means for our company'.

Heidi always has a smile on her face and when you walk through the door, they recognize you and say “Hi”. I definitely recommend anyone who is in the home buying, purchasing, refinancing, upgrading business to go to Mid America Mortgage Services, Inc, ask for Michelle because they are going to be the best person you can work with."

John

"I knew Jeanie Byland for a long time. She made the process so easy. One of the things I probably appreciated the most was that she didn't want to spoil the excitement of closing on a new house by showing up on closing day finding out that we owe a lot more than we thought. They were upfront with that information right from the get-go, and that’s because it’s just like they say, ‘They wouldn’t put you in a loan that they would be comfortable taking themselves.’”

Jamie

"When we were 18 and 19 years old no one wanted to help us get started. But Michelle took us under her wing 6 years ago next month. There is a lot of people out there that could of taken advantage of us many of times because we had no idea what was going on. For Michelle to stand beside us and walk us through, and not let us get into something that could get us in a lot of trouble means the world. We thank Michelle and we are extremely blessed to be able to work with her and her team. I have never even thought about talking to another lender and will always be loyal to Mid America Mortgage Services, Inc."

Cody and Morgan


Phone: (573) 875-1100
200 E Walnut St, Columbia, MO 65203

 

  • Home
  • About Us
  • Meet the Team
  • Apply for a Loan
  • FAQs
  • Mortgage Blog
  • Contact Us

Copyright © 2025 · Site by Zimmer Communications Zimmer Communications logo