We interview Mark Baker who gives a prediction for mortgage interest rates in 2022. Mark is a mortgage broker in Las Vegas and goes over the trends for home interest rates. Numerous factors affect home mortgage rates and Todd and Oana talk about all these predictions with Mark.
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.
