Source: Market Watch —
Aspiring buyers have plenty of questions right now: Will home prices fall? What about mortgage rates? (See the lowest mortgage rates you may get now here.) What else should I know? So we asked real estate pros to share their predictions for the housing market through the rest of 2022.
Prediction 1: Mortgage rates may continue to rise
Nadia Evangelou, director of real estate research for the National Association of Realtors, notes that mortgage rates have doubled since the beginning of the year, surpassing 6% in September. And pros say they may keep climbing.
“Mortgage rates are climbing with renewed urgency following the recent Fed meeting in which Chair Jerome Powell made it clear that fighting inflation is the first priority for the Fed,” says Realtor.com chief economist Danielle Hale.
