Experts Project Mortgage Rates for 2022

Experts Project Mortgage Rates for 2022

Mortgage rates are one of several factors that can impact your ability to buy a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit a record low point ever and they’ve hovered in historic-low territory. Over the past few weeks, rates have started to rise again. This past week, the average 30-year fixed rate was 3.14%.

What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. If you’re planning on buying a home this year, it’s better to do it now while rates are low!

Here’s a look at what several experts project for mortgage rates going into 2022.


Freddie Mac:

“The average 30-year fixed-rate mortgage (FRM) is expected to be 3.0 percent in 2021 and 3.5 percent in 2022.”


Doug Duncan, Senior VP & Chief Economist, Fannie Mae:

“Right now, we forecast mortgage rates to average 3.3 percent in 2022, which, though slightly higher than 2020 and 2021, by historical standards remains extremely low and supportive of mortgage demand and affordability.”


First American:

“Consensus forecasts predict that mortgage rates will hit 3.2 percent by the end of the year, and 3.7 percent by the end of 2022.”

If rates rise even a half-point percentage over the next year, it will impact what you pay each month over the life of your loan – and that can really add up. So, the reality is, as prices and mortgage rates rise, it will cost more to purchase a home. For this reason, it is crucial to capitalize on the market NOW before interest rates change.


Industry experts project rates will rise in the months ahead. Here’s a table that compares other expert views and gives an average of those projections:



Whether you’re moving into your dream home or thinking thinking about buying your first home, or downsizing because your needs in a home have changed, purchasing before mortgage rates rise will help you take advantage of today’s home buying affordability. This could the game-changer you need to achieve your homeownership goals.


If you’re thinking of buying or selling over the next year, it may be wise to make your move sooner rather than later – before mortgage rates climb higher. A rise in interest rates does not mean that houses are unaffordable, we still have record low mortgage rates and an investment in real estate is a long term and secure investment. If you need help in selling your home or buying before rates rise, our team here at Corken + Company is here for the professional help and insight needed in these times!




Learn more about 2022 mortgage rates at:

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Rachel Sartin

Lori Corken