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  • Mortgage rates hover near 7% for week ending June 15, 2023

    June 22, 2023 | Blog | Joe Metzler
  • For the 4th time in 9 months, average 30-yr mortgage rates have moved near or above 7%.

    This despite:

    1. major progress on taming inflation, and
    2. the Fed 'skipping' a rate hike after 10 straight hikes of 500 bps in total.

    The bond market is behaving strangely, but as inflation fades further in the 2H of 2023, the strong relationship between inflation and interest rates will reassert itself and mortgage rates WILL drop.

    If you buy today, you can refinance (probably) next year... But in the meantime, home prices continue to rise while you sit on the fence.

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