while the mortgage will eventually bubble pop/de-leverage to a significantly lower level, it's unlikely to happen within the next year or two, as many seem to suggest as I've written here - there are still many tools that can push mortgage rates down shorter-term

Illya Gerasymchuk 2025-09-19 22:31

so as a takeaway: expect volatility within the mortgage rates in the US ➖ upwards pressure: financial downturns in other sectors, organic de-leveraging ➖ downwards pressure: QE, Fed facilities, government policies