Mortgage Forecast

One of the biggest headline grabbers of 2022 has been the topsy turvy real estate market. Most notably, the mortgage interest rates therein. Interest rates practically doubled this summer from year-over-year rates and that has caused people to wonder if now is the time to buy, the time to sell, or what the rates will be in a few months. 

Of course, no one really knows for sure but some experts can make predictions. Looking at market fluctuations caused by inflation and spells a bit of uncertainty though the pros in the financial sector project that they’ll begin to stabilize soon. According to latest projections, the average rates across all four bureaus are expected to remain in the low fives for the next three quarters and then potentially dip into the 4’s in quarter 3 of 2023. 

Seeing as rates jumped nearly three full percentage points this summer alone, this possible break in interest rates could spell relief for thousands of people. Hopefully a potential dip also reflects a less inflated economy in the future. 

Whether you’re looking to buy, looking to sell, or just looking for answers to questions, it’s best to be fully informed. Our entire team is ready and eager to answer those questions and to help you in your home buying or selling process!