Mortgage Interest Rate Prediction for 2022: Home Interest Rate Trends
During the summer, the going rate for a home loan was as low as 2.75% for a 30 year fixed and currently around 3.25% for a 30 year fixed rate. Rates will not likely exceed 4% and probably around 3.75% is what is most likely. These rates are still historically low, and we will likely never see the mortgage interest rate go above 5% again, or at least in the near future.
Mark explains the factors that drive the mortgage interest rates and how the 30 year fixed mortgage changes with the FOMC decisions, as well as other economic factors.