Predictions for Mortgage Rates and Factors Affecting Housing Affordability

In this chapter, they discuss the predictions for mortgage rates in the coming years and the factors affecting housing affordability. They mention the lack of predictability in the market and how earlier in the year, they expected rates to decrease by the end of the year, but now they believe rates will remain mostly unchanged. They also talk about how housing affordability is at its lowest level since 1984 due to factors such as low inventory, high prices, and slower wage growth.