Nonetheless, the track record is somewhat better than the forecasts from”specialist” economists and housing-market trackers. As a reminder, that category, as surveyed by MarketWatch last December, forecast the 30-year fixed-rate mortgage would eventually”lift off,” and average roughly 5.1% during 2019. So far this calendar year, it’s really averaged 4.18%down about 40 basis points from last year. Down, not up.
Nonetheless, it seems like Americans as a group could be getting better at these predictions.
Each month, mortgage liquidity supplier Fannie Mae conducts a poll of households, which inquires whether people expect mortgage rates to move down or up.