Reported 6 months ago
Mortgage rates have been on the rise since late 2022, hitting nearly 8% in fall 2023, leading to soaring monthly payments for homeowners. Experts suggest that the current high rates are largely influenced by inflation and that rates will likely drop gradually over the next couple of years, with predictions from industry projections estimating a decline to around 6.5% to 7% by the end of 2024. The article explores the factors affecting mortgage rate changes, potential future rate cuts, considerations for homebuyers, and strategies to secure lower rates.
Source: YAHOO