The Mortgage Bankers Association (MBA) updated its projections, now expecting mortgage rates to range between 6.4% and 6.6% in 2025, significantly higher than previous forecasts.
Fannie Mae has also adjusted its expectations, now predicting mortgage rates to reach 6.3% in 2025, a notable change from earlier forecasts that expected rates below 5%.
MBA's forecast indicates a decrease in anticipated mortgage origination volume for 2025 to $2.1 trillion, down from October’s prediction of $2.3 trillion, reflecting lower consumer activity.
Both the MBA and Fannie Mae are projecting lower home sales in 2025 due to the increased mortgage rate expectations, with MBA anticipating existing home sales to hit 4.25 million.
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