Economist predicts mortgage rates stay above 7% through 2027

Mortgage rates are forecasted to stay above 7% through the end of 2027, driven by elevated inflation, higher Treasury yields, and restrictive central bank policies. The 30-year mortgage rate currently averages 7.40%, with projections indicating it will remain above 7% due to persistent inflation concerns and Federal Reserve rate hikes. Consequently, mortgage origination volumes are expected to decline slightly in 2027, and homebuying activity may shift toward adjustable-rate mortgages amid a slowdown in housing demand and construction.

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