Mortgage Rates Going Down….. Finally! November 15, 2022

In case you missed it last week, Thursday November 10 set a record.  On that day we saw the 30 year fixed mortgage interest rate drop on a single day more than it ever had before – about .60%!  That is remarkable!

So far this week those lower rates are holding.  We are even seeing them drop about 1/8% more from yesterday to today.  So the outlook for interest rates is more promising than it has been for quite a while, but it is still dependent on additional economic data for confirmation.  The worse the economy is doing, the better rates should be able to do, as long as inflation continues to moderate.