NY FED survey: Americans expect mortgage rates to rise to nearly 10% in the next three yrs

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The New York Fed survey, released Monday, is focused on housing and is part of the broader Survey of Consumer Expectations. It collected data on consumers’ experiences, behaviors, and expectations related to housing. The housing portion of the survey has been fielded annually since 2014. The survey was fielded in February 2024.

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U.S. consumers expect mortgage rates to approach double digits over the next three years, according to a new survey by the New York Federal Reserve.

Households have a gloomy view of mortgage rates. Consumers on average said that over the next year, they expect the 30-year mortgage rate to rise to 8.7%, and in three years, to 9.7%, “both of which are series highs,” the NY Fed said.

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