This past year brought us a surprising upward trend in home price growth despite the persistence of high mortgage rates and rising inventory. Mortgage rates are expected to keep mortgage payments essentially unchanged in 2025 despite continued home price growth.
Homebuyers hoping for a lasting return of September's near-6% mortgage rates will likely be disappointed, projecting rates will average 6.3% through 2025. There will be volatility around this average, so shoppers may catch a lucky break, but our advice is to plan and budget for the mid-6% range.
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