When Will Mortgage Rates Go Down? 2024 + 2025 Update

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When will mortgage rates go down? And when they do drop, how low will they go? We’re talking about the recent interest rate forecasts from the Fed and other economists betting that mortgage rates will fall this year and well into 2025. Why is the Fed finally lowering their rates after two years of rate hikes, and when will the first rate cut come? Licensed mortgage advisor Hannah Escher is back to explain.

Mortgage rates are most likely coming down by the end of this year, if not at some point in 2025, but if you’re waiting to buy your first home or investment property, what should you do? Is now the time to buy a house before rates go down and home prices have the potential to shoot back up? You could score a deal at a lower price and simply wait to refinance once mortgage rates drop, but is that the right move to make? Don’t worry, we’re touching on it all today!

00:00 Mortgage Rate Update
02:19 When Will Mortgage Rates Drop?
04:04 Rate Cuts Coming Soon?
05:26 More Rate Cuts in 2025
07:02 Home Prices Could Rise...
08:29 What to Do Now