June 21, 2024

Mortgage interest rates expected to drop in 2024

If you were priced out of the housing market in 2023, you might have better luck finding an affordable home in 2024.

Mortgage rates are expected to decrease by nearly 1% by year’s end — from 6.6% down to as little as 5.75% — according to recent housing forecasts. That’s good news for buyers, as the decrease would reduce their monthly mortgage costs by roughly $200 for a median-priced home.

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