February 2, 2023

It's Groundhog Day for mortgage borrowers, too

Americans look with excitement to February 2 and the anticipated activity of Punxsutawney Phil, the world-famous climate-forecasting rodent who will signal if winter will persist longer than expected or not.

But weather isn’t the only thing we’re eager to get an expert forecast on right now. Many of us also want to know where mortgage rates will land in the second month of 2023, the predictions for which can better guide our decisions on purchasing or refinancing a home.

How will rates shake out in February? When will it become more affordable to finance a home purchase? Will the groundhog see his shadow? For answers, read my latest story for Bankrate, available here.