This an excellent time to buy. The market is soft now and when the rates do lower, the prices will go up with the increased demand. Those who buy now are in essence buying “on sale” and will likely be able to refinance into a lower rate when the rates do decline.”
Inflation Is the Enemy of Long-Term Interest Rates
“The housing market is expected to face continued uncertainty heading into 2023 as consumers, financial markets, and policymakers work through their respective challenges in today’s economy. . . . we are watching for any additional stability in the MBS market, signs of cooling inflation, and/or less aggressive Federal Reserve action to give us confidence that mortgage rates are past their peak.”
What Does This Mean for the Future of Mortgage Rates?
“My current view is inflation will ease quicker than the Fed currently expects.”