The promise that buyers can refinance their way out of an expensive mortgage just became harder to sell. Fannie Mae’s October outlook projects an average 30 year fixed mortgage rate of 7.5% in every quarter of 2027. September’s forecast had anticipated 6.7%. That is a meaningful change for households buying now and businesses counting on refinancing activity next year. It is also a forecast, not a rate lock or a guarantee. Quarterly averages do not mean every borrower will receive…
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Fannie Mae Sees 7.5% Mortgages Through 2027. Stop Selling Buyers a Refinance Nobody Can Promise.
The promise that buyers can refinance their way out of an expensive mortgage just became harder to sell.
