Where are mortgage rates headed? Looking at the news, it seems like the only place left to go is up as the Fed continues to brutally beat homebuyers with unaffordable rate hikes. But, a looming threat on the horizon could shoot mortgage rates back down, even to five percent. That means homebuyers would be back at the affordable levels they were a few months ago before the housing correction began to take shape.
But, there's another path rates could go down, one leading to even more unaffordable mortgages and fatigued homebuyers. Thankfully, we’ve got Dave Meyer (@thedatadeli) here to share all the interest rate data he’s been reading up on. To Dave, interest rates going higher or lower are both likely scenarios, with intelligent forecasting on each side. But, something is pointing to rates declining that many investors aren’t looking at. Something that the Fed doesn’t have control over.
What are your mortgage rate predictions for 2023? Do you see rates dropping back down to five percent or below, or could we be making our way up to double-digit interest rates? Let us know in the comments below!
00:00 How High Can Rates Go? 01:48 9% Interest in the Near Future? 03:47 Who Controls Interest Rates? 07:33 Why Mortgage Rates May Fall 10:45 The 3 Scenarios for Mortgage Rates
