Team Nexus Real Estate Blog

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year:

Economic times are shifting, technology continues to evolve and the real estate market has become one of the most popular topics of discussion for most people.  The bubble talk is beginning to surface once again.   Many economic sectors are beginning to discuss the increased values in the real estate market and are utilizing a limited perspective of increasing mortgage interest rates to determine their opinions.  Moreover, many are referencing the same 2 elements with the most recent recession a...