Where Are Mortgage Rates Headed?
By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
Where Are Mortgage Rates Headed?There's never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.Coming into this year, most experts projected mortgage rates would gradually increase and end 2022 in the high three-percent range. Its only April, and rates have already blown past those numbers. Freddie Mac announced last week that the 30-year fixed-rate mortgage is already at 4.72%.Danielle Hale, Chief Economist at realtor.com, tweeted on March 31:Continuing on the recent trajectory, would...
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