2024 Mortgage Rate Projections. The mortgage stress test has reached its peak and will only go down from here. The current mortgage interest rates forecast is for rates to embark on a downward trajectory over the remainder of 2024.
They are expected to fall later in 2024. All five major housing authorities we looked at project.
Following On From This, We Expect Mortgage Rates.
As 2023 turned to 2024, it looked as if inflation was waning in earnest.
That’s Down From 7.8% In Late October, But Way Up From The 3% Or So We Saw In 2021.
Maximum interest rate 7.87%, minimum 7.17%.
Still, Most Economists Think Mortgage Rates Will Reverse Course Once Again.
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Most Observers Are Expecting The Fed To Begin Cutting Rates In The First Half Of 2024.
Fannie mae has estimated an average rate of 7.3% for 2024 while the mba has a more aggressive rate prediction as low as 6.1% at the end of 2024.
Heading Into 2024, Mortgage Rates Dropped Faster In The Preceding 8 Weeks Than Any 8 Weeks Since 1982.
Still, most economists think mortgage rates will reverse course once again.