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After more than two years of steady declines, rates for 30-year fixed-rate mortgage loans reached a record low of 2.7% at the end of 2020, according to data from Freddie Mac. By the week ending ...
In its July 2023 Housing Forecast, Fannie Mae predicted that the average rate on a 30-year fixed mortgage will be 6.8% in the 2023 third quarter — up from 6.5% during the second quarter and 6.4% ...
Where will rates go. Hale and Realtor.com forecast that in 2023 rates will average 7.4%, followed by early rate hikes in the first half of the year, and a slight retreat to 7.1% by the year-end.
In January, Goldman Sachs housing economists predicted mortgage rates would land at 6.5% by the end of this year. Now, the firm sees rates running higher — to around 7.1%.
Mortgage rates have been increasing at their fastest pace since the 1980s, according to Freddie Mac’s Quarterly Forecast report and as reported by Fox Business, and rates could remain high in 2023.
The average rate for a 30-year mortgage more than doubled between August 2021, when it was just 3 percent, and October 2023, when it reached 8 percent. (Rates have now dipped a bit and were back ...
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