Mortgage Rates Won't Go Back Down to 3% in My Lifetime

couple looking at home for sale

If you’re a U.S. homebuyer waiting for a return to super-low mortgage rates, don’t hold your breath.

The short-lived era of 3% interest rates for 30-year fixed mortgages is over, and unlikely to return anytime soon — perhaps for decades — says Lawrence Yun, chief economist at the National Association of Realtors.

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