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64 | TH E M R EP O RT FINAL THOUGHTS Rate Changes This month's quotes come from a cross-section of industry economists and other experts. Here's what they're saying about the shifts we're seeing in the housing and mortgage markets in early 2022. "FOBO" Mark Fleming, Chief Economist at First American, explaining why homebuyers are currently motivated not only by "fear of missing out," but also by "fear of better options." "record levels" Molly Boesel, Principal Economist at CoreLogic, on the economic factors that have helped push single-family rent growth to new heights. "expect some moderation" Sam Khater, Freddie Mac's Chief Economist, discussing anticipated shifts in housing demand on the heels of rising rates. "seasonal slowdown" Scott Happ, President of Black Knight Secondary Marketing Technologies, on December declines in rate locks, driven by typical yearly adjustments and rising rates. "all-time low" Lawrence Yun, National Association of Realtor's Chief Economist, said home builders have already made strides in 2022 to increase supply, but reversing gaps like the ones seen recently will take years to correct.