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How high will mortgage rates go & what does this mean for real estate?
Mortgage rates are up 1.25% on average so far this year. That means, if trajectory continues, we will be at 8% by the end of the year. I do not think that happens, but it definitely is possible. The only people who can fix that (The FED) have specifically said they will no longer be fixing it and in fact need to go in the other direction to help fight inflation. In this video, I'll run through rates, the real estate market, what I see happening in the most likely sense as well as the things we need to look for in the coming months that will tell us exactly what's next. Do not FOMO right now, be calculated and deliberate with everything. Hope it helps! Links below...
SUBMIT YOUR SCENARIO - get a loan quote specific for you and fast! All I need is the following info…feel free to email or text:
- Loan amount
- Home Value (purchase price)
- Approx credit score
- Condo/Detached
- State property is in
I will get back to you ASAP! :)
Derrick Evens, Home Loan Specialist, NMLS 155010
Derrick@DerrickEvens.com
619.952.2046
VA mortgage rates, FHA mortgage rates, Conventional mortgage rates, JUMBO mortgage rates today
Links:
https://fred.stlouisfed.org/series/MORTGAGE30US
https://www.cnbc.com/2022/03/24/mortgage-rates-keep-climbing-market-still-hot-for-renters-and-buyers.html
https://www.cnbc.com/2022/03/23/mortgage-refinance-demand-plunges-14percent-as-interest-rates-spike-higher.html
https://altos.re/r/cf071f91-3fd8-4451-9fc6-52f243001ddc?data=count
https://www.cnbc.com/2022/03/24/us-to-sanction-over-300-russian-elites-and-block-russian-central-bank-gold-.html
https://www.cnbc.com/2022/03/24/blackrocks-larry-fink-who-oversees-10-trillion-says-russia-ukraine-war-is-ending-globalization.html
https://www.cnbc.com/2022/03/24/blackrocks-fink-says-russia-ukraine-war-could-accelerate-use-of-cryptocurrencies.html
https://www.cnbc.com/2022/03/22/crypto-investor-katie-haun-raises-1point5-billion-for-haun-ventures.html
https://www.cnbc.com/2022/03/23/florida-becomes-largest-state-to-mandate-personal-finance-education-.html
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