Fannie Mae chief economist Doug Duncan said in a statement, “A survey-record share of consumers – particularly homeowners and higher-income individuals – expect mortgage rates to increase in the next 12 months, likely owing to signals that the Fed will raise rates to slow the pace of inflation.”
According to Fannie Mae, the share of respondents who predict rates will go up in the next 12 months increased from 58% to 67%, while the share who predict home prices will go up increased from 43% to 46%.