rates are trending upwards pros say indeed many pros say estimate that the federal reserve will raise interest rates in november and december and for mortgage rates in particular “we’ll start to see more evidence of the economy slowing but with inflation still hot mortgage rates will be at 20year highs” says greg mcbride chief financial analyst at bankrate prediction 1 rates could soar as high as 75 “mortgage rates have soared higher at a whiplashinducing pace with the labor market still strong the economy resilient and inflation stubbornly near 40year highs 30year rates between 7 and 75 will be the norm in november shop around not only to get the best rate but to secure the lowest fees” says mcbride see the best mortgage rates you may qualify for now here mcbride isn’t the only one with that prediction “it’s possible mortgage rates will reach 75 in november the 10year treasury yield an indicator of mortgage rates has already surpassed the 4 benchmark fast rising rent prices accounting for 40 of the consumer price index will put additional upward pressure on inflation in the coming months rent prices will keep climbing as people may need to rent for longer due to historically low affordability15 fewer renters can afford to buy the medianpriced home compared to a year ago” says nadia evangelou senior economist and director of forecasting at the national association of realtors prediction 2 until inflation is under control mortgage rates will continue to rise “mortgage rates will likely continue to rise until we start to see data showing that inflation is under control the whole market right now is sort of waiting for the signal that inflation is subsiding and we just haven’t seen that yet so it doesn’t seem likely to happen by the end of the year but it’s possible” says greg phillips chief technology officer at real estate and mortgage brokerage company houwzer see the best mortgage rates you may qualify for now here prediction 3 rates won’t increase as much as they did in october but now for some better news while mortgage rates rose more than half a percentage point in october “in november mortgage rates are likely to continue climbing but not as much as in october” says holden lewis home and mortgage expert at nerdwallet the reason “investors look a few months ahead and they believe there’s a chance that the federal reserve will slow its pace of rate increases in its december meeting the prospect that the fed will moderate its raterising campaign should ease the upward pressure on mortgage rates” says lewis prediction 4 the fed is likely to increase rates 75 basis points in november and that means mortgage rates could also see an uptick while the fed doesn’t determine mortgage rates directly mortgage rates often follow the central bank’s lead to some degree “the fed is likely to increase rates 75 basis points in november and may pursue a similar sized hike in december” says realtorcom chief economist danielle hale but she adds that she expect that rise this time to have a “more muted impact than usual” see the best mortgage rates you may qualify for now here prediction 5 higher rates won’t necessarily mean home prices come down higher mortgage rates will keep many from listing their homes pros say “since twothirds of sellers end up buying again there’s little incentive to trade a roughly 3 fixed rate mortgage for a much higher 7 rate” says orphe divounguy senior economist at zillow “the decline in the flow of homes coming on the market is keeping inventory tight on one hand declining home buying demand pulls down prices on the other hand the decline in supply supports prices”