What's the number one question people are asking me right now? What is happening with mortgage rates? 

As inflation rose this year, interest rates climbed significantly too. According to the latest data from NAR, the typical monthly mortgage payment is now almost seven hundred dollars higher than it was a year ago. If that’s making you press pause on your home search, I get it.

But here’s the thing. Experts project mortgage rates should start to stabilize, not continue their steep climb.

 

This chart shows the latest mortgage rate projections from several industry experts. On average, they’re forecasting rates will remain fairly steady over the next four quarters, hovering in the low-five percent range. 

The key is, we also have to watch what happens with inflation to see how mortgage rates respond. I’m keeping a close eye on all the data, and the good news is, as inflation shows signs of peaking, experts don’t project mortgage rates will continue to rise as they did earlier this year. 

 

So, what’s the best thing to do if you want to make a move? Connect with me, and I can connect you with a mortgage professional, so you have two professionals who are staying on top of the latest expert insights for you. The housing market is changing, and right now you need a trusted advisor more than ever.

Please feel free to contact me via social at jillward808 or via my website at jillward808.com. Have a great day!