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Interest rates will rise

The Federal Reserve is expected to raise interest rates a few times in 2022, which means mortgage rates will likely rise. Both Redfin and Realtor.com predict a 30-year-fixed mortgage rate will reach 3.60% by the end of 2022, compared to an average of 3.30% now. That’s not necessarily bad news for buyers, Olsen says. The “silver lining” of higher mortgage rates, she says, is that fewer speculative buyers will be in the market, because there is less money to be made. That could help the average person. “When you have higher interest rates, it becomes more of the people who buy homes just to live in them,” says Olsen. “That’s something the market will benefit from, coming back down to sanity.”


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