Rates are at 7% – What Happens Next? – Tom’s Take 313 Mortgage rates are at around 7%. The last time we saw rates as high was back in October. And before that, it had been a very long time before rates even came close to 7%.The Fed plans on continuing to raise the key interest rate.These rates won’t be coming down any time soon, but it’s likely we’re going to see rates go lower later in the year.So there’s decisions to make for buyers and sellers right now.Tune into episode 313 of Tom’s Take some real data and a process to navigate your experience and see what’s going to make the most sense.As always, reach out with any questions! We are happy to be your guide!