NPR Admits Mortgage Rates Likely Won't Go As Low as Trump Years

FAITH CHECK STAFF: The housing market is just one example of the economic chaos of Bidenomics aka Kamalanomics. Both ends of the equation are distorted. The price of homes is going higher, because current home owners would pay higher interest rates and so they remain in their homes. New homebuyers face a diminishing supply and become more desperate to buy homes at higher prices. That further drives up the price of homes. So, not only has Kamalanomics spiked the average price of a home, mortgage rates remain higher than they were four years ago under the Trump administration.
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Where mortgage rates go from here

So where are mortgage rates headed? That's difficult to answer, since mortgage rates are affected by so many factors.

But there's one thing that experts generally agree on: They likely won't go anywhere near the levels of a few years go.

In 2019, for example, rates for a 30-year fixed-rate mortgage ranged from about 3.75% to 4.5%. And they dropped to as low as 2.65% in early 2021 as the pandemic wore on.

Many forecasts have rates near 6% at the end of this year — and falling to about 5.8% next year.

“I think the new normal is maybe 6% mortgage rate,” says Lawrence Yun, the chief economist at the National Association of Realtors. “If we are lucky, maybe we get to 5.5% mortgage rate. Or if we are unlucky, maybe the mortgage rate trends back up towards 7%.”
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