June 9, 2024, 11:28 am pdt. Predicting how mortgage rates will move is a nearly impossible task, but recent inflation news gives the impression that rates are likely to hold fairly steady as well in the coming months.
In response, beginning in march 2022, the central bank raised rates to their current level of 5.25 to 5.5 percent. 8 housing market predictions for 2024.
June 9, 2024, 11:28 Am Pdt.
Rates will remain above 6.5%.
City Creek Center In Salt Lake City.
Nar predicts rates will peak this quarter at 7.1% and drop to 6.5% in the last quarter of the year.
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Organizations Like The Mortgage Bankers Association, Along With Prominent Economists, Often Offer Their Predictions Based On Market Trends, Financial Data, And Historical Patterns.
We gathered some housing market predictions from real estate agents across the country so those looking to buy or sell in 2024 have an idea of what to expect.
Although A Recession Is No Longer Forecasted, Economic Growth Is Expected To Decline Sharply.
The combination of high mortgage rates, steep home prices and low inventory levels are lining up to make the 2024 housing market a challenging one for both buyers and sellers.