Mortgage rates are dropping. Here’s what to expe
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Posted On: 12/16/2023 5:56:46 AM
Mortgage rates are dropping. Here’s what to expect in 2024 if you want to buy a home, experts say
PUBLISHED FRI, DEC 15 202311:36 AM ESTUPDATED FRI, DEC 15
After a year full of record-high interest rates and home prices, experts say there are signs of improvement for the housing market in 2024.
In December, the average mortgage rates dropped below 7% for the first time since August and after an 8% peak in October, which pushed housing costs to the highest level since 2000.
“The decline poses good news for buyers,” said Jessica Lautz, deputy chief and vice president of research at the National Association of Realtors.
PUBLISHED FRI, DEC 15 202311:36 AM ESTUPDATED FRI, DEC 15
After a year full of record-high interest rates and home prices, experts say there are signs of improvement for the housing market in 2024.
In December, the average mortgage rates dropped below 7% for the first time since August and after an 8% peak in October, which pushed housing costs to the highest level since 2000.
“The decline poses good news for buyers,” said Jessica Lautz, deputy chief and vice president of research at the National Association of Realtors.
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