Though mortgage rates are currently at a five-month high, they still should ultimately trend down this year.
But if inflation remains sticky in the coming months, mortgage rates will likely remain elevated for longer than currently expected.
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But because inflation has been somewhat sticky in recent months, mortgage rates have remained elevated so far this year.
Persons:
Fannie Mae, Hamilton Fout
Organizations:
Zillow, Federal Reserve, Mortgage, Association, ARM
Locations:
Chevron