Mortgage Rates Expected to Fall in 2025, But Will Remain High Next Year
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Mortgage rates are currently very high, around 8% for a 30-year fixed rate mortgage.
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Rates are expected to remain high in 2024 without much relief.
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Experts forecast rates could fall to around 6.5% by 2025.
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Predicting future mortgage rates is difficult due to many economic factors like inflation and Fed policy.
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It's impossible to know exactly what will happen, but there should be some rate relief by 2025 compared to now.