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Are Interest Rates Going Up In 2022? October '21 Market Report

I can't believe October is almost over. Happy Fall! As we roll towards the end of the year, I wanted to focus on 2 specific areas that I think you will find VERY helpful if you're deciding when is a good time to buy or sell your home. I attached a deeper look at these numbers if you're interested!


Mortgage rates have inched up ever so slightly over the last eight months from the high 2's to the low 3's. These are historically low. Even as recent as two years ago the 30 year rate was 4.01%. So when we talk about "Are Rates Going Up in 2022," we are still speaking about low rates.

According to a report released by the Mortgage Banker's Association this month, experts are predicting mortgage rates to rise from the low 3's to the low 4's. So what does that mean for buying power?

Here's an example:

3% Mortgage

$360,000 Home, $1,264 Monthly Payment

4% Mortgage

$325,000 Home, $1,241 Monthly Payment

That means a 1% rise in rates could reduce your buying power by around $35,000 on a home of this size. In my opinion, this isn't catastrophic by any means, but for those of you on the fence on whether to buy now or wait, this is a GREAT time to buy. In this way, it is a BUYERS MARKET.


In order to have a balanced market between sellers and buyers, you need 6 months of inventory on the market at one time. We have not been there for several years in Allen county. This is definitely still a SELLERS MARKET where we are hovering at below 1 months of inventory. And the average days on the market went from 20 last year to just 10 days currently. So not only are homes selling, they are selling fast!

We have noticed a slight uptick in Inventory over the last three months, which I believe is both healthy for buyers and sellers.


This is a great time to buy and sell. One of the best times over the course of my life. Every market has its challenges. But reach out to me and we can develop a plan thats right for you to help you achieve your buying or selling goals in this very unique market.

Justin Clifton

Owner Clifton Home Group

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