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Will mortgage rates hit 7% in near future? Here’s what the chief economist of the National Association of Realtors says about that

·3 min read
Will mortgage rates hit 7% in near future? Here’s what the chief economist of the National Association of Realtors says about that

Mortgage rates have been on a steady climb upwards: While they started the year at around 3.5% for a 30-year fixed-rate mortgage, they’ve since climbed above 6%, Bankrate data shows. National Association of Realtors (NAR) chief economist Dr. Lawrence Yun says he thinks rates may settle within the range of 6.3% to 6.5% in July, and could then go even higher.