[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1kso2k6d92asm":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},3963,"whats-happening-with-mortgage-rates-and-where-will-they-go-from-here","What’s Happening with Mortgage Rates, and Where Will They Go from Here?","Based on the \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\">\u003Cem>Primary Mortgage Market Survey\u003C\u002Fem>\u003C\u002Fa> from\u003Cem> Freddie Mac\u003C\u002Fem>, 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:","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F03\u002F29163122\u002F20220330-KCM-Share.jpg","Based on the \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\">\u003Cem>Primary Mortgage Market Survey\u003C\u002Fem>\u003C\u002Fa> from\u003Cem> Freddie Mac\u003C\u002Fem>, 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:\u003C!--more-->\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F03\u002F29163121\u002F20220330-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-46246\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F03\u002F29163121\u002F20220330-MEM-Eng-1.png\" alt=\"What’s Happening with Mortgage Rates, and Where Will They Go from Here? | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nJust a few months ago, \u003Cem>Freddie Mac\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fresearch\u002Fforecast\u002F20220121-quarterly-economic-forecast\">projected\u003C\u002Fa> mortgage rates would average 3.6% in 2022. Earlier this month, \u003Cem>Fannie Mae\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fmedia\u002F43141\u002Fdisplay\">forecast\u003C\u002Fa> mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed those projections.\r\n\r\nSam Khater, Chief Economist at \u003Cem>Freddie Mac\u003C\u002Fem>, explained in a \u003Ca href=\"https:\u002F\u002Ffreddiemac.gcs-web.com\u002Fnews-releases\u002Fnews-release-details\u002Fmortgage-rates-continue-move-0?_ga=2.217383318.1602794866.1648323840-1529566666.1576528603\">press release\u003C\u002Fa> last week:\r\n\u003Cblockquote>\u003Cem>“This week, the 30-year fixed-rate mortgage increased by more than a quarter of a percent as mortgage rates across all loan types continued to move up. Rising inflation, escalating geopolitical uncertainty and the Federal Reserve’s actions are driving rates higher and weakening consumers’ purchasing power.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Where Are Mortgage Rates Going from Here?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nIn a \u003Ca href=\"https:\u002F\u002Fwww.bankrate.com\u002Fmortgages\u002Fmarch-2022-mortgage-rate-outlook\u002F\">recent article\u003C\u002Fa> by \u003Cem>Bankrate\u003C\u002Fem>, several industry experts weighed in on where rates might be headed going forward. Here are some of their forecasts:\r\n\u003Ch5>Greg McBride, Chief Financial Analyst, \u003Cem>Bankrate\u003C\u002Fem>:\u003C\u002Fh5>\r\n\u003Cblockquote>\u003Cem>“With inflation figures continuing to surprise to the upside, mortgage rates will remain above 4.0% on the 30-year fixed.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch5>Nadia Evangelou, Senior Economist and Director of Forecasting, \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR):\u003C\u002Fh5>\r\n\u003Cblockquote>\u003Cem>“While higher short-term interest rates will push up mortgage rates, I expect some of this impact to be mitigated eventually through lower inflation. Thus, I expect the 30-year fixed mortgage rate to continue to rise, although we aren’t likely to see the big jumps that occurred over the past few weeks.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch5>Len Kiefer, Deputy Chief Economist, \u003Cem>Freddie Mac\u003C\u002Fem>:\u003C\u002Fh5>\r\n\u003Cblockquote>\u003Cem>“Mortgage rates are likely to continue to move higher throughout the balance of 2022, although the pace of rate increases is likely to moderate.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIn a recent \u003Cem>realtor.com\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Ffederal-reserve-mar-2022-meeting\u002F\">article\u003C\u002Fa>, another expert adds to the conversation:\r\n\u003Ch5>Danielle Hale, Chief Economist, \u003Cem>realtor.com\u003C\u002Fem>:\u003C\u002Fh5>\r\n\u003Cblockquote>\u003Cem>“. . . As markets digest the Fed’s updated economic projections, I anticipate a continued increase in mortgage rates over the next several months. . . .”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>What Does This Mean for You if You’re Looking To Buy a Home?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nWith both mortgage rates and \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F03\u002F03\u002Fare-home-prices-continuing-to-rise\u002F\">home values\u003C\u002Fa> expected to increase throughout the year, it would be better to buy sooner rather than later if you’re able. That’s because it’ll cost you more the longer you wait. But, there is a possible silver lining to buying a home right now. While you’ll be paying a higher price and a higher mortgage rate than you would have last year, rising prices do have a long-term benefit once you buy.\r\n\r\nIf you purchase a home today valued at $400,000 and put 10% down, you would be taking out a $360,000 mortgage. According to \u003Ca href=\"https:\u002F\u002Fwww.mortgagecalculator.net\u002F\">\u003Cem>mortgagecalculator.net\u003C\u002Fem>\u003C\u002Fa>, at a 4.42% fixed mortgage rate, your mortgage payment would be $1,807 a month (this does not include insurance, taxes, and other fees because those vary by location).\r\n\r\nNow, let’s put that mortgage payment into a new perspective based on the substantial growth in \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F03\u002F21\u002Fthe-average-homeowner-gained-more-than-55k-in-equity-over-the-past-year\u002F\">equity\u003C\u002Fa> that comes with the escalation in home prices. Every quarter, \u003Cem>Pulsenomics\u003C\u002Fem> surveys a panel of over 100 economists, investment strategists, and housing market analysts about their expectations for future home prices in the United States. Last week, \u003Cem>Pulsenomics\u003C\u002Fem> released their latest \u003Ca href=\"https:\u002F\u002Fpulsenomics.com\u002Fsurveys\u002F#home-price-expectations\">\u003Cem>Home Price Expectation Survey\u003C\u002Fem>\u003C\u002Fa>. The survey reveals that the average of the experts’ forecasts calls for a\u003Cstrong> 9% increase in home values in 2022. \u003C\u002Fstrong>\r\n\r\nBased on those projections, a $400,000 house you buy today could be valued at $436,000 by this time next year. If you break that down, that means the equity in your home would increase by $3,000 a month over that period. That’s greater than the estimated monthly payment above. Granted, the increase in your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F03\u002F28\u002Fa-key-to-building-wealth-is-homeownership\u002F\">net worth\u003C\u002Fa> is tied to the home, but it is one way to put the home price appreciation to use in a way that benefits you.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nPaying a higher price for a home and a higher mortgage rate can be a difficult pill to swallow. However, waiting will just cost you more. If you’re ready, willing, and able to buy a home, now will be a better time than a year, or even six months from now. Let’s connect to begin the process today.","\r\nPaying a higher price for a home and a higher mortgage rate can be a difficult pill to swallow. However, waiting will just cost you more. If you’re ready, willing, and able to buy a home, now will be a better time than a year, or even six months from now. Let’s connect to begin the process today.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F03\u002F29163121\u002F20220330-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},35,"Mortgage Rates","mortgage-rates","2022-03-30T10:00:09Z","2022-11-16T17:23:56Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},3962,"the-best-week-to-list-your-house-is-just-around-the-corner","The Best Week To List Your House Is Just Around the Corner","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F03\u002F28142225\u002F20220329-KCM-Share.jpg","2022-03-29T10:00:45Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},3964,"there-are-several-great-reasons-to-consider-buying-a-condo-today","There Are Several Great Reasons To Consider Buying a Condo Today","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F03\u002F30151325\u002F20220329-KCM-Share-1.jpg","2022-03-31T10:00:27Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[48,52,53,57,61,65,66,70,74,75,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":22,"name":23,"slug":24},{"id":67,"name":68,"slug":69},11,"First-Time Buyers","first-time-buyers",{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":26,"name":27,"slug":28},{"id":76,"name":77,"slug":78},38,"Move-Up","move-up",{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]