Reported 5 months ago
Industry forecasters predict that in 2024, mortgage rates are expected to finish around 6.5%, down from the current 7.0%, with projections of one rate cut in December and an increase in origination volume, primarily driven by purchases. The market is anticipated to see increased demand from money managers and overseas investors, with an uptick in new home sales and housing starts. The Mortgage Bankers Association's Chief Economist forecasts a rebound in origination volume in the coming years, reaching $2.0 trillion in 2025 and $2.28 trillion in 2026, with mortgage rates projected to fall to 5.9% and 5.7% in 2025 and 2026, respectively.
Source: YAHOO