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