Mortgage rates fluctuate. Sometimes they’re up. Sometimes they’re down. You can’t really plan your home purchase around them but knowing what’s expected – even if it’s the unexpected – can give potential buyers an idea of how to plan and budget for their future. So, what’s ahead for rates? Well, according to the National Association of Home Builder’s chief economist, Dr. Robert Dietz, home buyers should expect today’s rates to stick around a while. “It’s a really unbalanced economy right now and I think the bond market is reflecting that,” Dietz said. “We also have high inflation right now and that’s all tied to the Iran war. There’s just a lot of policy items that are keeping the market in this state of limbo and the result is higher interest rates.” Dietz expects elevated rates to become the new normal, at least, until geopolitical factors can help settle the market and bring some relief to borrowers. (source)
