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5% in 2024, 4% in 2025: A Mortgage Rate Forecast

  • August 22nd 2023

by UrbanTurf Staff

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Mortgage rate chart_08-17-23.png

Long-term interest rates are at their highest level in decades, but a new forecast provides a sense as to when those will start heading south. 

On Monday, the Mortgage Bankers Association put out its forecast for where it sees rates heading in the next two years. The MBA expects rates to average: 

  • 6.2% in Q4 2023
  • 5.0% Q4 2024
  • 4.6% in Q4 2025

The drop in rates can't come soon enough for homebuyers. Last week, long-term rates hit their highest level in 20 years; today, existing home sales fell 2% compared to June. 

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/5_in_2024_4_in_2025_a_mortgage_rate_forecast/21380.

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