Posted 1/20/2024, 1:15:00 PM
Mortgage Rates Could Dip Below 6% by 2024, Boosting Home Sales and Affordability
- Mortgage rates forecast to dip below 6% by end of 2024 amid Fed policy shifts and lower bond yields
- 30-year fixed rates predicted to fall from current 6.6% to 5.8% by Q4 2024 and 5.5% by end of 2025
- Declining rates expected to "thaw" housing market as more homeowners list properties
- Total home sales now seen reaching 4.96 million in 2024, up from prior forecast of 4.79 million
- Home prices forecast to increase 3.2% in 2024 due to improving affordability and supply dynamics