'Don't blame the Fed' for high mortgage rates, says Zillow chief economist—the real culprit and his predictions for 2024
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The average rate on a 30-year fixed-rate mortgage is currently at about 6.7%, down from 7.8% in late October but up from the 3% seen in 2021. Zillow economist Orphe Divounguy argues that the Federal Reserve's influence on mortgage rates is overstated and that mortgage rates depend on inflation, expectations of future inflation and economic growth. Divounguy predicts that mortgage rates will not decrease significantly in 2024 and that home prices will continue to increase, albeit at a slower pace. He advises potential homebuyers to get in the market now if they can afford it, as waiting for mortgage rates to fall may indicate serious economic troubles.

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https://www.cnbc.com/2024/02/02/zillow-economist-mortgage-rate-predictions-for-2024.html