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Mortgage Forecast: 6% Rates Still on the Horizon, but Not in Time for Spring

Posted by Christopher Lazaro on March 15, 2024
Real Estate & Mortgage News
0

Around 72% of potential homebuyers believe homeownership would be financially feasible if mortgage rates dropped below 5%. However, forecasts don't predict rates falling below 6% until 2025. Despite recent rate increases, any decrease is positive for buyers. Experts suggest that rates may gradually decline, but reaching below 6% this year is uncertain. Comparing mortgage rates, even a 1% difference can significantly impact monthly payments and total interest paid over the loan term.

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