Interest RatesVerify your mortgage eligibility (Feb 23rd, 2024)
We anticipate mortgage rates to rise along with inflation during the first part of the year. With Fed action, softer stock market, and slowing economic conditions, interest rates should head lower in the second part of the year.
Housing will remain strong in 2022 but not as strong in 2021. Demand may be slightly softer due to a rise in interest rates. Supply will increase but remain tight. Semiconductor shortages, supply chain disruptions, and tight labor will all play a role. Rents will continue to rise which may push many people to see the benefit in buying.