Housing Interest Rates Predictions 2024. Rates roughly doubled back in 2022, thanks in part to the federal reserve’s war on inflation, and they have stayed high since. The current mortgage interest rates forecast is for rates to embark on a downward trajectory over the remainder of 2024.
On top of that, inflation remains above the federal reserve’s 2% target rate and a recession is still possible in 2024. The elevated rates have pushed up borrowing costs for mortgages to their.
In Response, Beginning In March 2022, The Central Bank Raised Rates To Their Current Level Of 5.25 To 5.5 Percent.
The average sale prices of homes sold for the first quarter of 2024 was $513,100, according to the federal reserve bank of st.
And, Between The Higher Mortgage Interest Rates And Higher.
Share our findings with your friends, colleagues, and buyer’s agent.
On Top Of That, Inflation Remains Above The Federal Reserve’s 2% Target Rate And A Recession Is Still Possible In 2024.
Images References :
By 2025, Interest Rates Are Anticipated To Have Moderated, Following A Period Of Increases From 2022 To 2024.
This would be lower than the current rate of 7.08% as of october 2023, but still higher than the historic lows of 2.65% in january 2021.
“Mortgage Rates Will Spend The Bulk Of The Year.
And, between the higher mortgage interest rates and higher.
After A Year In Which Mortgage Rates Hit Highs Not Seen In 23 Years, Buyers In 2024 Are Expected To Get A Little Relief.