Rates rocket up and feather down. Right now it is and will continue into the foreseeable future—it is rocket time, buckle up.
We will be hitting 5.00%+ well before year end. (i.e. red line going up will intersect the red dashed line).
FYI, as rates go up, it takes more income to qualify for a loan. Any loan that is “loan process” where the borrower is running at debt-to-income ratio (DTI) limits and is not locked in, their loan closing is at risk. OUCH. And with that, I wish everyone a Merry Christmas in March. 
