After hitting an all-time low of 2.65% in January of 2021, mortgage rates have been on the rise. At the end of 2021, the average 30-year fixed-rate mortgage stood at 3.05%, based on data from Freddie Mac.
3. Home Value Appreciation Will Slow from Record Pace
Economists generally agree that the blistering pace of home price appreciation will slow significantly in 2022. Notably, most economists do not foresee a drop in real estate prices or worse, a housing market crash, only a slowing of the current trends.