How high do you think mortgage interest rates will be by year end?

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I think we will be around 6 end of year. I think mortgage lenders have baked in this next hike already.

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F

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Oh thanks for the info! I didn’t know that so got o know.

Hard to say I definitely didn’t think they’d jump from 2.5% to 6% in two years; to me that’s quite a jump - though they did equivalently drop to the 2.5% rather quickly as well (two years ago)

I started seeing houses starting to list 100-200k under Zillow estimate ranges for houses in Santa Ana, CA. A 3 BR/2BA house estimated at 860 recently sold for 660

My guess is 6-6.5, it won’t keep rising at the level of the past few months. The real question I’m intrigued in his how the rising rates affect demand in the market

I think it will dampen demand for sure. Many people just won’t be able to afford homes with that high of an interest rate, especially as you consider that supply is much lower than demand. Although that does mean less competing offers, the prospect of a higher monthly payment is enough to deter many buyers. Personally I’m really hoping it tops out below 6%. I feel mortgage lenders are also aware that their profits might take a hit, due to lower demand, if it goes much higher.

However, I know they there are lots of all cash offers, or even some offers where close to 50% is being put down as down payment. How it affects those buyers, is a whole other topic.

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I think it will come back down a little bit as demand goes down. People just can’t afford the payments on the homes they want.

Banks will have to lower their spread if they want to keep originating.

They should start making 40 year loans a thing if interest rates get high enough.

Or prices need to get back to reasonably priced/not hiking due to greed.

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