Will mortgage rates go back to 3 percent?

Nobody can responsibly promise where mortgage rates land next, and any specific target is a guess dressed up as a forecast. Rates are set by bond markets reacting to inflation, employment and Federal Reserve policy, not by any single prediction. Waiting for a return to the lowest rates seen a few years ago has already cost some buyers years of rising prices while they waited. Talk to a lender about today's actual rate rather than betting on a future one.