Mortgage Interest Rates Are Definitely Headed Up, For Sure, Oh Wait!?

I can't even count how many times over the past five-ish years that I have said mortgage interest rates would certainly be rising again, soon, for sure.

I have certainly been thinking that over the past few months, but... maybe they're not!?

Consider these data points for the average 30 year fixed mortgage rate...

One Year Ago = 2.84%

April 2021 = 3.18%  (a peak)

August 2021 = 2.77%  (a valley)

October 28 = 3.14%  (apparently, a peak)

Today = 2.98%

This is all show in the graph above, as well.

After interest rates rather steadily rose between August and October, it seemed almost certain that they would continue to rise, staying above 3% for perhaps the indefinite future.

But, then, for the past two weeks, mortgage interest rates have declined, now landing below 3%, again.

So, yeah, mortgage interest rates are definitely going to go up now, soon, for sure.  Just like I have been saying, inaccurately, for years now...