Expert Forecasts on Mortgage Rates

Expert Forecasts on Mortgage Rates
If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow?
 
As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts.
 
Experts Project Mortgage Rates Will Stabilize
 
While mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they’ll start to stabilize in the months ahead. According to the latest projections, mortgage rates are expected to hover in the low to mid 5% range initially, and then potentially dip into the high 4% range by later next year (see chart below):
 
That could bring you some welcome relief. So far this year, mortgage rates have climbed over two percentage points due to the Federal Reserve’s response to inflation, and that’s made it more expensive to buy a home. And wondering if the rise in rates will continue is keeping some prospective buyers on the sidelines.
 
But now that experts say mortgage rates should stabilize, this gives you a bit more certainty about what they think the future holds, and that may help you feel more confident about your decision to buy a home.
 
Bottom Line
 
Whether you’re looking to buy your first home, move up to a larger home, or even downsize, you need to know what’s happening in the housing market so you can make the most informed decision possible. Let’s connect to discuss your goals and determine the best plan for your move.

Recent Blog Posts

Stay up to date on the latest real estate trends.

House Flipping: The Quick Guide

House flipping is a dynamic journey through real estate, blending creativity, strategy, and profit. Nowadays, you can find many players in this market—from seasoned re… Read more

What Is Going on with Mortgage Rates?

The Fed decided to start raising the Federal Funds Rate to try to slow down the economy (and inflation) in early 2022. That rate impacts how much it costs banks to bor… Read more

The Best Way To Keep Track of Mortgage Rate Trends

Rates have been volatile and you may be wondering why? The answer is complicated because rates are affected by so many factors, including what’s happening in the broad… Read more

San Francisco Market Update - April 2024

In San Francisco, home prices haven’t been largely affected by rising mortgage rates after the initial period of price correction from May 2022 to July 2022. Since Jul… Read more

East Bay Market Update - April 2024

In the East Bay, low inventory and high demand have more than offset the downward price pressure from higher mortgage rates, and prices generally haven’t experienced l… Read more

Prepping Your Home For A Successful Sale

When you're ready to sell your home, doing a little preparation beforehand can potentially help your home sell quicker and for a higher price. 

San Francisco Market Update - March 2024

The median single-family home and condo prices rose meaningfully from December 2023 to February 2024, up 14.1% and 17.9%, respectively. Year-over-year prices also appr… Read more

East Bay Market Update - March 2024

Mortgage rates increased in February, but their strong effect on the market may be waning.

Expert Home Price Forecasts for 2024 Revised Up

Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will… Read more

Let’s Talk

You’ve got questions and we can’t wait to answer them.