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Mortgage Interest Rates

Updated: Nov 3, 2022

Mortgage interest rates have recently been making waves in the housing market, with the rates more than doubling in less than a year's time. Many as of 10/27/22 project that they'll go up further, but opinions on the subject vary greatly. Here I wanted to share multiple projections by the experts, my opinion, and some of the influencing contributing factors involved.

Image courtesy Freddie Mac

Mortgage Rates 137.6% increase in under 1 year

On November 10th, 2021, average US 30 year mortgage interest rates as reported by Freddie Mac were 2.98%. As of 10/27/22, that number has risen to 7.08%, and appears to keep going up.

Mortgage Rates haven't been this high in over 2 decades, but rates have been much higher before

Why rates are up: The Inflation Factor

Why rates are up: The 10 year U.S. Treasury Note Yield

Will rates go down?

What will happen when rates do go down?

Problems with Googling "where will mortgage rates go"