Will interest rates ever get back down to covid era levels?

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If your intent is to time the drop on rates for buying a home, don’t. By the time rates drop again, home prices will have risen and you’ll end up paying somewhat the same.

Better to buy now, and then refinance when they drop. Just food for thought.

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Or wait. When credit becomes expensive due to higher rates, house prices go down. There is a lag, but that’s what happens. Every time.

Please don’t make buying a home simply on interest rates. My first home was 7% next one in the mid 6% 3rd also around 6 then refi to 5, then sold at huge loss due to housing crash. Bought in new city at 3.5 then cash out refinanced at 2.99 3 yrs ago and this home has tripled in value. You gotta pay to play.

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Yes I had been laid off - we decided to put the house on the market because we knew it could take forever to sell but figured if I got a new job we’d be flexible to move. It took 1 year to sell but ironically I signed offer for new job the same day an offer came on the house. It was risky but that house only rebounded back to our original purchase price, while the house we got now beat it by a long shot. We didn’t know this would happen, we were just making moves based on our gut instincts and being open for and needing change.

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Probably during the next crisis

I don’t know if we’ll see rates around high 2’s or very low 3’s again. But somewhere around mid/high 3’s is plausible during the next crisis. Not sure if the (likely) forthcoming recession will qualify as a crisis. But seeing as how the economy is cyclical, we should see them drop again in the next 2-5 years.

Yes, not even the government can afford these interest rates

Lol hopefully not. Do you like hyperinflation?

Doubtful

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