Forecasts suggest 30-year mortgage rates may decrease from 7.1% to 6.6% by end of 2024, and further to 5.9% by end of 2025, pending inflation decrease.
Economic indicators impacting mortgage rates include inflation, job creation, and unemployment. Federal Reserve may lower rates upon improvement in these factors, leading to reduced mortgage rates.
Experts agree that to see a decline in mortgage rates, inflation must ease. Past predictions have sometimes been inaccurate, adding uncertainty to the forecast.
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