Say Hello to 7%


               30-Year Fixed-Rate Mortgages climbed above 7% in October – up from 3.18% 12 months earlier.


              This is the first time they have been above 7% since 2002.


              As my followers know, I used a technical timing tool to correctly forecast this rise in rates in my January 2022 Timing Letter. 


                                            Are Mortgage Rates Nearing

                                                 a Longer-Term Peak?


              I don’t think so.


              Even though rates have more than doubled in the last 12 months, the Fed is raising rates to fight inflation – which is currently over 8%. 


              It’s very doubtful the Fed is done.


              Thus, it’s likely that mortgage rates will continue to rise in the months and maybe years ahead.




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