Mortgage Interest Rates

Updated: Nov 3

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"

Projections From Various Sources as of 10/27/22

Word on the Housing Market

I can no longer afford what I wanted. What should I do?

What all of this information as well as the housing market trends means for a sale

What all of this information as well as the housing market trends means for a purchase with no sale involved

Recent Inflation Rates:









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