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Fannie Mae: Mortgage rates and home prices will rise in ’22

Economists at Fannie Mae expect an increase mortgage rates and home prices in 2022 due to higher inflation, a tightening of monetary policy, and low home inventory.

Fannie Mae in its October economic forecast said it expects the 30-year fixed rate mortgage to average 3.3% in 2022, up from 3.1% the GSE projected last month. Fannie attributed the uptick in interest rates to the Federal Reserve’s expected tapering of asset purchases, including mortgage backed securities.

For this year, Fannie projects rates to average 2.9%. According to the Freddie Mac PMMS survey, the average details ⇒

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