March 1, 2024

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Mortgage interest rates are expected to decline in 2024

Mortgage interest rates are expected to decline in 2024

If you are priced out of the housing market in 2023, you may have better luck finding an affordable home in 2024.

Mortgage rates are expected to fall about 1% by the end of the year – from 6.6% to 5.75% – according to the latest housing forecasts. That's good news for buyers, as the decline would reduce monthly mortgage costs by about $200 for the median-priced home.