{"id":2175,"date":"2021-11-03T13:50:14","date_gmt":"2021-11-03T13:50:14","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2175"},"modified":"2021-11-03T13:50:14","modified_gmt":"2021-11-03T13:50:14","slug":"experts-project-mortgage-rates-will-continue-rise-2022","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/experts-project-mortgage-rates-will-continue-rise-2022\/","title":{"rendered":"Experts Project Mortgage Rates Will Continue To Rise in 2022"},"content":{"rendered":"
\"\"

Experts Project Mortgage Rates Will Continue To Rise in 2022<\/p><\/div>\n

Mortgage rates are one of several factors that impact how much you can afford if you\u2019re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the\u00a0lowest point<\/a>\u00a0ever recorded, and they\u2019ve hovered in the historic-low territory. But even over the past few weeks,\u00a0rates<\/a>\u00a0have started to rise. This past week, the average 30-year fixed rate was\u00a03.14%<\/a>.<\/p>\n

What does this mean if you\u2019re thinking about making a move?\u00a0Waiting until next year will cost you more in the long run<\/strong>. Here\u2019s a look at what several experts project for mortgage rates going into 2022.<\/p>\n

Freddie Mac<\/em><\/a>:<\/h4>\n

\u201cThe average 30-year fixed-rate mortgage (FRM) is expected to be\u00a03.0 percent in\u202f2021 and 3.5 percent in 2022<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Doug Duncan, Senior VP & Chief Economist,\u00a0Fannie Mae<\/em><\/a>:<\/h4>\n

\u201cRight now,\u00a0we forecast mortgage rates to average 3.3 percent in 2022<\/strong>, which, though slightly higher than 2020 and 2021, by historical standards remains extremely low and supportive of mortgage demand and affordability.\u201d\u00a0<\/em><\/p><\/blockquote>\n

First American<\/em><\/a>:<\/h4>\n

\u201cConsensus forecasts predict that mortgage rates will hit\u00a03.2 percent by the end of the year, and 3.7 percent by the end of 2022<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

If rates rise even a half-point percentage over the next year, it will impact what you pay each month over the life of your loan \u2013 and that can really add up. So, the reality is, as\u00a0prices<\/a>\u00a0and mortgage rates rise, it will cost more to purchase a home.<\/p>\n

As you can see from the quotes above, industry\u00a0experts\u00a0project\u00a0rates will rise in the months ahead. Here\u2019s a table that compares other expert views and gives an average of those projections:<\/p>\n

\"\"

Projection for How Mortgage Rates Will Rise<\/p><\/div>\n

Whether you\u2019re thinking about buying your first home, moving up to your dream home, or downsizing because your needs have\u00a0changed<\/a>, purchasing before mortgage rates rise even higher will help you take advantage of today\u2019s homebuying\u00a0affordability<\/a>. That could be just the game-changer you need to achieve your homeownership goals.<\/p>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re thinking of buying or selling over the next year, it may be wise to make your move sooner rather than later \u2013 before mortgage rates climb higher.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"

Mortgage rates are one of several factors that impact how much you can afford if you\u2019re buying a home. Here\u2019s a look at what several experts project for mortgage rates going into 2022. Finish Reading Experts Project Mortgage Rates Will Continue To Rise in 2022<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[272,38,10,18,27,91,86,52,49,42,40,116,280,228,63,20,12,48,28,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2175"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=2175"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2175\/revisions"}],"predecessor-version":[{"id":2178,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2175\/revisions\/2178"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}