Decoding Mortgage Rate Predictions: What To Expect in the Coming Year

You probably want to know what the future holds for mortgage rates—we all do. The challenge is that rates are nearly impossible to predict. However, I can give you the best information we have right now.

The graph at 0:15 in the video above shows the average of the expert mortgage rate projections through this time next year. It shows that experts say rates will pull back slightly over the next few quarters. This is because if inflation keeps cooling, rates should dip down as a result.

Here's the advice I have for you on interest rates: Based on my experience, only three things can happen with mortgage rates—they can stay where they are, go down, or go up. If you buy now and rates don't change, you made a good move because home prices are expected to keep climbing, costing you more in the long run. If you buy now and rates fall, at least you got your house before home prices appreciated more. Plus, you can always refinance later if rates drop. If you buy now and rates rise, you bought before the price and mortgage rates went up, which is a win.

Therefore, if you have questions about anything related to real estate, let's connect. As always, you can DM, text, or email me. I’m here and happy to help.