Mortgages in the U.S. Expected above $3 Tr This Year

The volume of mortgages in the United States could exceed $3 trillion in 2021, according to a recent report by the Financial Times.

Strong competition and the historically low rates are helping provide attractive options for mortgage seekers.

This level has only been surpassed twice, in 2003 and in 2020.

Moreover, loans of $2.75 trillion are expected in 2021, as per the Mortgage Bankers Association.

Currently, mortgage rates are at all-time lows, with the average rate on a 30-year fixed-rate mortgage a little under 2.7%.