Posted 1/16/2024, 2:26:58 AM
Mortgage Rates Could Drop to 6% by 2024, Improving Affordability Gradually
- Mortgage rates expected to fall to low 6% range by end of 2024 as Federal Reserve cuts interest rates
- Gradual decline of rates depends on inflation data showing prices cooling
- Lower rates should help increase housing inventory as more homeowners list homes
- Still not enough homes to meet demand, prices may keep rising without more construction
- Shop around for lenders and improve finances to get best rate when ready to buy