Last year was a tremendous year for homebuyers and refinancers, with near-record setting lows for mortgage rates across the country. As we go through this year, the question on everyone’s mind has become: what will we see within the next year? As rates have fluctuated greatly.

2022 Mortgage Rates Forecast - USA Mortgage

Mortgage Rates of 2020

In 2020, mortgage rates were some of the lowest we’ve seen in over 3 years. They ended up being better than anyone expected or predicted. The housing market stayed strong, and there was also an increase in housing construction. For those who looked to buy or refinance in 2020, they were met with some great options for low rates for a variety of loan programs.

Because of the low rates, there was an increase in the number of refinances as the year went on as well. Some borrowers were able to lower their current mortgage loan rate as much as 2-3%. Overall, 2020 was a superb time to buy or refinance a home, and borrowers were taking advantage of the low rates as the year started to come to an end.

Mortgage Rates of 2021

For the mortgage industry, 2021 was a record-breaking year with some of the lowest mortgage rates in years. It was the perfect year for homeowners to find their dream home, or even refinance their current. 2020-2021 will definitely go down as a time of historically low mortgage loan rates across the board. Although rates dropped, we started to see the drop of housing inventory towards the end of 2021 which made it a struggle for homebuyers to find their dream home.


Mortgage Rates Forecast of 2022


Although rates have risen throughout the beginning of 2022, it’s still a good time to look into purchasing a home, as the housing market is continuing to grow. The predictions being made are not guaranteed, so make sure that you are shopping around for the best mortgage loan rate as soon as you are ready to buy a home or refinance. One thing that most of the experts can agree on, is that the low mortgage rates won’t last forever, as they will continue to rise for some time. Although the rates have risen, it doesn’t mean it’s not a good time to buy. Rates will either steadily continue to go up or will eventually level out or go back down. If you are thinking about buying or refinancing, you should definitely get the process started early and get your rate locked in now.

The fear of buying a home has been on many minds. Buying a home in 2022, you still will have the opportunity to refinance later if rates do drop. So, marry your dream home, and date the rate, and know that USA Mortgage will have your back! If you are thinking about refinancing your current mortgage, or buying a new home, reach out to a mortgage loan officer today to talk about rates. They can let you know what the best programs are, and make sure you are getting the best deal possible.

USA Mortgage - Abadi Branch

USA Mortgage - Abadi Branch

USA Mortgage Home Loans is a mortgage lender with local branches throughout Missouri, Arkansas, Illinois, and nearby areas.