Hope Leitner, Realtor®, CRS

  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...

  Chances are you’re hearing a lot about mortgage rates right now, and all you really want to hear is that they’re coming back down. And if you’ve seen headlines about the early November Federal Funds Rate cut by the  Federal Reserve  (The Fed), maybe you got hopeful mortgage rates would start to decline right away. Although some media sources may lead you to believe that the Fed’s actions determine mortgage rates, in reality, they don’t.  The truth is, the Fed, the job market, inflation, geopolitical changes, and a whole list of other economic factors influence  mortgage rates , too. So, while recent actions from the Fed set the stage for mortgage rates to come down over time — it's going to be a gradual and, likely bumpy, process. Here’s the best advice anyone can give you right now. While you may be tempted to wait for rates to fall, it’s really hard to try and  time the market  — there’s just too much that can have an impact. Instead, set yourself ...