2022 Mortgage Rate Predictions | It's Still a Good Time to List Your Property
Posted by Breckenridge Associates Real Estate on
Mortgage Rate Predictions for 2022
After interest rates on 30-year fixed-rate mortgages hit a record low of 2.66% at the tail end of 2020, the rates rose modestly at the start of 2021 hovering below 3% for much of the year. While 2022 kicked off with low mortgage rates, they have seen an uptick recently. There are two major factors at play here: increasing inflation and a growing economy. That said, mortgage rates can always rise and fall for a variety of reasons. At a basic level, a growing economy leads to higher mortgage rates while a slowing economy leads to lower mortgage rates.
Overall, mortgage rates are expected to go up in 2022, particularly with the Federal Reserve's indication of an increase to the bench mark interest rates and Federal…
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