Mortgage rates could hit 8%, economists say
Currently, the spread between the 30-year fixed-rate mortgage and a 10-year Treasury bond is around 300 basis points
“Historically, the mortgage-rate spread has only been around this level only during periods of financial crisis such as the Great Recession or the early 1980s recession,” deRitis added. “The historical average is closer to 175 basis points.”
MarketWatch 16 August 2023
On the other hand, as economists like to say,
if inflation returns to 2 percent, the real rate on new loans will be 5 percent for many years.
Englund blogg 16 August 2023
https://englundmacro.blogspot.com/2023/08/us-homeowners-now-pay-around-7-percent.html
Mortgage Rates Hit 7.09%, Highest in More Than 20 Years
Now, buyers, sellers, investors and real estate players are adjusting to the idea that higher rates are here to stay, or at least here to stay longer than they were expecting.
High-rate homeowners who bought recently and were hoping they could soon refinance are coming to grips with the fact that they’ll have to wait a while.
Wall Street Journal 17 August 2023
https://www.wsj.com/economy/housing/mortgage-rates-2023-us-higher-seven-percent-c92d684a
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