If you were waiting for mortgage interest rates to drop before buying a home, experts suggest you might want to follow the projections of national housing economists.
Jessica Lautz, Deputy Chief Economist for the National Association of Realtors, recently updated the Collin County Association of Realtors on what to expect in the housing market for 2025. According to Lautz, mortgage rates are expected to stabilize in the high 6% range, with the possibility of a slight dip to 6.5%. However, they are unlikely to fall to 5%, as some prospective buyers had hoped.
“There’s no need to wait on the sidelines expecting that rates are going to drop significantly,” Lautz said. “We expect rates to remain in the 6% range, and home prices are likely to increase.”…