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August 14, 2023 | Where Mortgage Rates are Going

Robert Campbell

Robert Campbell is a real estate analyst and economist. He's been publishing The Campbell Real Estate Timing Letter since 2002. His book (Timing the Real Estate Market) presents a clearly defined method for predicting the peaks and valleys of real estate cycles.


Since Jan 2023, mortgage rates show a chart pattern that is characterized by higher highs and higher lows.

The average rate on a 30-year fixed mortgage rose to 6.96% as of Aug 9th, 2023.

Rates hit a 20-year high of 7.08% in Nov 2022.

With the rate of inflation coming down, many real estate pundits have predicted that mortgage rates would come down too.

At least for now, I’ll take the other side of that bet.

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