Mortgage Rates to Fall Below 7% by April 2024
Realtor.com’s housing forecast for 2024 predicts that the 30-year mortgage rate will fall below 7% by April 2024. This comes as good news for homebuyers who have been struggling with rising rates and a shrinking inventory of available properties.
Average Mortgage Rate Expected to Be 6.8%
According to the forecast, the average mortgage rate over 2024 is expected to be 6.8%, with the 30-year rate potentially falling to as low as 6.5% by the end of the year. This decrease in mortgage rates could provide some relief for buyers who have been facing a challenging market with limited options.
Relief for Buyers in the Spring
Realtor.com’s chief economist suggests that buyers can expect some good news in the spring of 2024 as mortgage rates begin to fall. This could lead to an increase in available properties and more favorable conditions for those looking to purchase a home.
Preparing for the Changing Market
As mortgage rates begin to fall and the real estate market shifts, it’s essential for buyers and sellers to be prepared for these changes. Visit Jessica Fulk’s website for valuable resources, tips, and listings to help you navigate the evolving real estate market. From Mission Hills to Overland Park and beyond, Jessica Fulk can provide the guidance and expertise you need to make the best decisions for your real estate journey.
Staying Informed and Adapting to the Market
As the real estate market continues to change, it’s crucial for buyers and sellers to stay informed and adapt to new conditions. Whether it’s adjusting your expectations or working with an experienced real estate agent like Jessica Fulk, staying on top of market trends and changes can help you achieve your real estate goals. Don’t miss out on the latest news and updates by subscribing to MarketWatch and keeping an eye on the housing forecast for the coming years.
Orginal article: Link To Article – provided by Kansas City Realtors