Surpassing Past Peak Inflation Brings Lower Interest Rates And More Buyers To Market
Published 2 weeks ago
It does not mean that home prices are going down on a year over year basis, it just means that the rate of appreciation and pace of home sales has slowed. Nevertheless home prices are still expected to be up anywhere from 3%-6% on a year over year basis.
Because of aggressive SHORT TERM Federal Reserve rate hikes to curb inflation, the LONG TERM mortgage rates have started to come down and the trend is expected to continue through the end of 2022 and into 2023.
As interest rates come down, more Buyers will re-enter the market causing increased competition and pricing pressure. Buyers who can find a home that's suitable at this time would be wise to purchase knowing they can refinance when interest rates come down in the future as they always do.
National Rate Averages
Conf. 30Y Fixed
FHA 30Y Fixed
Jumbo 30Y Fixed
Rate averages are calculated from actual locked rates. Learn more.