Will mortgage rates keep rising in 2022? Where will the rates stop in 2022? The answer is we don't really know and the rates are tied to inflation which is tied to some things that are out of our control. We know the interest rates for mortgages are at 5% as of April 15th, 2022, but they may end up as high as 7%.
The good thing is that when it's deemed that inflation is done or that at least we have a grasp on it we will see rates drop down again. I think the mortgage rates will go up over 6% this year and will drop back down slightly. The real estate market in the USA is on fire and people are still submitting multiple offers so if you're looking to buy a home this spring 2022 lock-in that rate asap.
Articles I talked about. Freddie Mac: https://www.freddiemac.com/pmms Bankrate: https://www.bankrate.com/mortgages/will-the-rise-in-mortgage-rates-hurt-home-prices/ Forbes on predictions: https://www.forbes.com/advisor/mortgages/mortgage-interest-rates-forecast/ Demand For Products (google): https://www.google.com/search?q=why+does+the+fed+raise+rates+during+inflation&oq=Why+does+the+fed+raise+rates+during+inflation&aqs=chrome.0.0i512j0i22i30j0i390l5.10911j0j9&sourceid=chrome&ie=UTF-8 Redfin: https://www.redfin.com/news/housing-market-update-demand-slips-more-price-drops/ ShowingTime: https://www.showingtime.com/impact-of-coronavirus/ Mortgage Application Decrease: https://www.mba.org/news-and-research/newsroom/news/2022/04/13/mortgage-applications-decrease-in-latest-mba-weekly-survey-higher-mortgage-rates-to-slow-purchase-originations-growth-and-refinances
#MortgageRates2022#HousingCrash#RealEstateMarket#Mortgagerate
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