Will mortgage rates ever be 3% again?
A straightforward answer to a question many buyers and homeowners are asking.
Will mortgage rates ever be 3% again? This question often comes up when people compare today’s rates to the unusually low levels seen a few years ago.
Answer
No one can guarantee if or when 30-year mortgage rates will return to around 3%, because rates depend on future inflation, Federal Reserve policy, and global demand for bonds. Pandemic-era 3% rates were driven by emergency monetary policy and unusually low inflation, conditions that may not repeat soon. Long-term, if inflation moderates and the economy slows significantly, rates could trend lower. However, planning your home purchase or refinance around a hope for 3% can backfire. A better strategy is to buy when the payment comfortably fits your budget, then watch for future refinancing opportunities if rates drop meaningfully.
Use our mortgage calculator to see how current rates affect your monthly payment.
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