Your current web browser is outdated. For best viewing experience, please consider upgrading to the latest version.
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
search DONATE
Close Nav

Waiting for Mortgage Rates to Fall? Don't Hold Your Breath.

back to top
commentary

Waiting for Mortgage Rates to Fall? Don't Hold Your Breath.

Bloomberg Opinion June 9, 2022
EconomicsOther

The days of freakishly cheap loans are probably gone for good, and rates might even go up some more before they fall again.

I bought an apartment last year and if I were buying today, I wouldn't be able to afford it. The increase in mortgage rates would mean $1,000 more a month than I am paying now. It may be the only time in my life I (inadvertently) timed the market right.

Now, my friends who want to buy are waiting and hoping for those heady 2.7% 30-year fixed mortgage rate days to return. Some are betting they will and taking out an adjustable rate mortgage.

Continue reading the entire piece here at Bloomberg Opinion (paywall)

______________________

Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.

Photo by Feverpitched/iStock

Saved!
Close