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"If I were going to be buying real estate right now and I had to take out a mortgage. I have to tell you, I think I would probably wait till about September to do so," Orman said on her podcast.
Looking back at U.S. history, the average mortgage rate has hovered around 7%, approximately where it is today. A bigger problem now is rapidly rising home prices due to a severe lack of inventory.
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See today's average mortgage rates for a 30-year fixed mortgage, 15-year fixed, jumbo loans, refinance rates and more — including up-to-date rate news.
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A real estate trend is any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This phenomenon can be a result of the economy, a change in mortgage rates, consumer speculations, or other fundamental and non-fundamental reasons.