May 10 2024 Mortgage Rates. If inflation continues to fall as it did throughout 2023, industry insiders are optimistic that average mortgage rates could fall below 5% again in 2024. The consensus among industry professionals is that mortgage rates will gradually decline across 2024.
See wowa’s mortgage interest rate expectation/forecast in this table. Mortgage rates have held steady so far this year, landing at 6.79% during the final week of march, according to the march 28, 2024, freddie mac primary mortgage market.
Projected Mortgage Interest Rate Forecast 2024.
Most forecasting models predict that mortgage rates will remain above 6% in 2024, potentially dropping.
If Inflation Continues To Fall As It Did Throughout 2023, Industry Insiders Are Optimistic That Average Mortgage Rates Could Fall Below 5% Again In 2024.
The online property portal has predicted that mortgage rates will settle in 2024 but ‘remain elevated’, tempering some buyers’ budgets, especially in the lower and middle market.
According To Fairweather, Rates Will Likely Be Cut In The Summer, Which Will Propel Mortgage Rates To Decrease As The Year Progresses.
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The Direction Of Mortgage Rates Isn’t Permanent.
The average mortgage rate will remain at 6.7% in q2.
How Far Could Mortgage Rates Drop In 2024?
It was 6.47% a week earlier.
Most Forecasting Models Predict That Mortgage Rates Will Remain Above 6% In 2024, Potentially Dropping.