Hope Leitner, Realtor®, CRS

  Wondering what’s in store for the housing market this year? And more specifically, what it all means for you if you plan to buy or sell a home? The best way to get that information is to lean on the pros. Experts are constantly updating and revising their forecasts, so here’s the latest on two of the biggest factors expected to shape the year ahead: mortgage rates and home prices. Will Mortgage Rates Come Down? Everyone’s keeping an eye on mortgage rates and waiting for them to come down. So, the question is really: how far and how fast? The good news is they’re projected to ease a bit in 2025. But that doesn’t mean you should expect to see a return of 3-4% mortgage rates. As Lawrence Yun, Chief Economist at the  National Association of Realtors  (NAR),  says :   “Are we going to go back to 4%? Per my forecast, unfortunately, we will not. It’s more likely that we’ll go back to 6%.” And the other experts agree. They’re forecasting rates could settle in the mid-...

  One of the biggest questions on everyone’s minds right now is: when will mortgage rates come down? After several years of rising rates and a lot of bouncing around in 2024, we’re all eager for some relief. While no one can project where rates will go with complete accuracy or the exact timing, experts offer some insight into what we might see going into next year. Here’s what the latest forecasts show. Mortgage Rates Are Expected To Ease and Stabilize in 2025 After a lot of  volatility  and uncertainty, the  most updated  forecasts suggest  rates  will start to stabilize over the next year, and should  ease  a bit compared to where they are right now ( see graph below ): As Lawrence Yun, Chief Economist at the  National Association of Realtors  (NAR),  says :  “While mortgage rates remain elevated, they are expected to stabilize.” Key Factors That’ll Impact the Future of Mortgage Rates It’s important to note that the tim...