I’ve been following the news about promises made during the election. One thing that caught my eye was talk about 3% mortgage rates. I’m wondering if this is actually going to happen or if it’s just another campaign promise that won’t come true.
Has anyone heard any updates on this? Are there any experts here who can explain if 3% rates are even possible in the current market? I’m thinking about buying a house soon, so I’m really curious about how this might play out.
Also, what do you all think about politicians making promises about the economy? Is it fair to hold them accountable for stuff like interest rates?
As someone who’s worked in mortgage lending for over a decade, I can say with confidence that 3% rates are highly unlikely in the current economic climate. Interest rates are influenced by complex factors like inflation, economic growth, and Federal Reserve policies. While politicians may promise low rates, they have limited direct control over them. The market ultimately dictates rates, and right now, with inflation concerns and economic uncertainty, we’re seeing upward pressure. It’s crucial for potential homebuyers to focus on what’s actually happening in the market rather than campaign promises. My advice? If you’re planning to buy soon, don’t wait for unrealistic rate drops. Instead, focus on finding a home you can afford at current rates and consider refinancing if rates do eventually decrease.
i reckon 3% isnt gonna happen, its just a political woo woo. the market does its own thing. if u’re bout buying, focus on what u can afford now rather than wait for a miracle.
Hey Ryan57, interesting question! I’m curious too—can government policy really drive rates that low? Historical trends might offer clues. What do you think causes such dramatic shifts? Could market forces or policy maneuvers realistically achieve 3% mortgage rates?