Mortgage And Refinance Rates, June 21 | Rates rising today

Abstract

Average mortgage rates inched lower last Friday, though only by a similar tiny amount to Thursday’s rise. Last week, those for conventional, 30-year, fixed-rate mortgages remained above 6% all week. Freddie Mac concurred: ‘These higher rates are the result of a shift in expectations about inflation and the course of monetary policy’ The chances are dropping fast. If one materialize, it would take mortgage rates. But even if one materializes, it will take Mortgage rates. It would take Mortgage rate rates. I wouldn’t be much lower. But, even if it will be muchLower or last long, I wouldn't expect inflation to fall for many months, perhaps sometime in 2023. And even then, that doesn't necessarily mean mortgage rates will fall, at least for long. But if the Federal Reserve manages to tame inflation quickly, the pain of sharply rising rates should go away. The odds are dropping quickly,