What a difference a week makes when it comes to the 30-year fixed rate mortgage, which rose for the first time since mid-November, hitting 6.42% for the week ending Dec. 29.
However, homebuyers, sellers, and housing analysts are more interested in what difference a year makes. And a year ago at this time, the 30-year FRM averaged 3.11 percent.
Entering 2023, Joseph Rubin, senior advisor, EisnerAmper, tells GlobeSt.com he thinks the 30-year mortgage rate will trend higher as the Fed continues to raise the fed funds rate and as they reduce their balance sheet.
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