The Federal Reserve's historic rate cut this week could usher in a period of lower mortgage rates, as experts anticipate a mild decrease over the next 18 months.
Fannie Mae anticipates the 30-year fixed mortgage rate will average out at 6.2% by Q4 2025, while the MBA expects 6.0% and Wells Fargo forecasts 5.9%.
Forecasting interest rates has become more complex due to shifting economic variables and unforeseen events like the COVID-19 pandemic, complicating predictions further.
Despite challenges in predicting the financial market, the consensus among major firms is that mortgage rates are likely to decline gradually over the coming months.
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