With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will
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“Mortgage rates rose again this week as lenders increased prices to help manage skyrocketing refinance demand,” said Sam Khater, Freddie Mac’s chief economist, in the report.
Those aiming to get a new mortgage — either to refinance their existing home loan or to purchase a mortgage — shouldn’t worry too much about interest rates staying this elevated. Economists have said lenders will likely bring rates back down to an extent once they’ve worked through their backlog of applications. And with the coronavirus outbreak still playing out, market volatility is likely here to stay for some time.
“With so much still uncertain, and market movements remaining unpredictable, it’s a losing game to try and predict where rates are heading next,” Speakman said. “But it’s safe to say that more dramatic movements are likely on the horizon.
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