[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2x3dppelb425f":3,"$fbwk2pqjjqsc7":39},{"item":4,"previous":27,"next":33},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":25,"updatedAt":26},43992,"some-experts-say-mortgage-rates-may-fall-below-6-later-this-year","Some Experts Say Mortgage Rates May Fall Below 6% Later This Year","\u003Cp>There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240220\u002F20240221-Some-Experts-Say-Mortgage-Rates-May-Fall-Below-6-Later-This-Year.png","\u003Cp>\u003Cspan style=\"color: black;\">There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: \u003C\u002Fspan>compared to the near 8% peak last fall, \u003Ca href=\"\u002F2024\u002F01\u002F26\u002Fwhy-its-more-affordable-to-buy-a-home-this-year-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">mortgage rates\u003C\u002Fa> have trended down overall.\u003C\u002Fp>\u003Cp>And if you’re looking to \u003Ca href=\"\u002F2024\u002F01\u002F24\u002Fare-more-homeowners-selling-as-mortgage-rates-come-down\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buy\u003C\u002Fa> or \u003Ca href=\"\u002F2024\u002F01\u002F17\u002F2-reasons-why-todays-mortgage-rate-trend-is-good-for-sellers\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">sell a home\u003C\u002Fa>, this is a big deal. While they’re going to continue to bounce around a bit based on various economic drivers (like inflation and reactions to the consumer price index, or CPI), don’t let the \u003Ca href=\"\u002F2024\u002F02\u002F12\u002Fwhats-really-happening-with-mortgage-rates\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">short-term volatility\u003C\u002Fa> distract you. The experts agree the overarching downward trend \u003Ca href=\"\u002F2023\u002F12\u002F20\u002Fwhy-mortgage-rates-could-continue-to-decline\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">should continue\u003C\u002Fa> this year.\u003C\u002Fp>\u003Cp>While we won’t see the record-low rates homebuyers got during the pandemic, some experts think we should see rates dip below 6% later this year. As Dean Baker, Senior Economist, \u003Cem>Center for Economic Research\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fcepr.net\u002Fcontrary-to-what-the-washington-post-tells-you-homeownership-rates-for-young-people-are-above-the-pre-pandemic-level\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">says\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“They will almost certainly not fall to pandemic lows, although \u003C\u002Fem>\u003Cstrong>\u003Cem>we may soon see rates under 6.0 percent, which would be low by pre-Great Recession standards.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>And Baker isn’t the only one saying this is a possibility. The latest \u003Cem>Fannie Mae\u003C\u002Fem> projections also indicate we may see a rate below 6% by the end of this year (\u003Cem>see the green box in the chart below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp> \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240221\u002F20240221-Mortgage-Rate-Projections.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240221\u002F20240221-Mortgage-Rate-Projections.png\" alt=\"a screenshot of a graph\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>The chart shows mortgage rate projections for 2024 from \u003Cem>Fannie Mae\u003C\u002Fem>. It includes the one that came out in \u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fmedia\u002F49866\u002Fdisplay\" rel=\"noopener noreferrer\" target=\"_blank\">December\u003C\u002Fa>, and compares it to the updated 2024 forecast they released just \u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fmedia\u002F50096\u002Fdisplay\" rel=\"noopener noreferrer\" target=\"_blank\">one month\u003C\u002Fa> later. And if you look closely, you’ll notice the projections are on the way down.\u003C\u002Fp>\u003Cp>It’s normal for experts to re-forecast as they watch current market trends and the broader economy, but what this shows is experts are feeling confident rates should continue to decline, if inflation cools.\u003C\u002Fp>\u003Ch4>\u003Cstrong>What This Means for You\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>But remember, no one can say for sure what will happen (and by when) – and short-term volatility is to be expected. So, don’t let small fluctuations scare you. Focus on the bigger picture.\u003C\u002Fp>\u003Cp>If you’ve found a home you love in today’s market – especially where finding a home that meets your budget and your needs can be a challenge – it’s probably not a good idea to try to time the market and wait until rates drop below 6%.\u003C\u002Fp>\u003Cp>With rates already lower than they were last fall, you have an opportunity in front of you right now. That’s because even a small quarter point dip in rates gives your \u003Ca href=\"\u002F2024\u002F01\u002F08\u002Fwhat-lower-mortgage-rates-mean-for-your-purchasing-power\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">purchasing power\u003C\u002Fa> a boost.\u003C\u002Fp>","\u003Cp>\u003Cspan style=\"color: black;\">If you wanted to move last year but were holding off hoping rates would fall, now may be the time to act. Let’s connect to get the ball rolling.\u003C\u002Fspan>\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240221\u002F20240221-Mortgage-Rate-Projections.png",false,[17,21],{"id":18,"name":19,"slug":20},35,"Mortgage Rates","mortgage-rates",{"id":22,"name":23,"slug":24},327,"Forecasts","forecasts","2024-02-21T11:30:00Z","2024-04-11T20:13:08Z",{"id":28,"slug":29,"title":30,"featuredImage":31,"publishedAt":32,"contentType":10,"isVideo":15},43498,"strategic-tips-for-buying-your-first-home","Strategic Tips for Buying Your First Home","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240215\u002F20240220-Strategic-Tips-for-Buying-Your-First-Home.png","2024-02-20T11:30:00Z",{"id":34,"slug":35,"title":36,"featuredImage":37,"publishedAt":38,"contentType":10,"isVideo":15},43913,"expert-home-price-forecasts-for-2024-revised-up","Expert Home Price Forecasts for 2024 Revised Up","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240220\u002FHeader-Image-20220524-Blog.png","2024-02-22T11:30:00Z",[40,44,48,52,56,60,64,68,72,73,77,81,85,89,93,97,101,105,109,113,117,121,125,129,133,137,141,142,146,150],{"id":41,"name":42,"slug":43},1,"Uncategorized","uncategorized",{"id":45,"name":46,"slug":47},5,"For Buyers","buyers",{"id":49,"name":50,"slug":51},6,"For Sellers","sellers",{"id":53,"name":54,"slug":55},7,"Foreclosures","foreclosures",{"id":57,"name":58,"slug":59},8,"Infographics","infographics",{"id":61,"name":62,"slug":63},9,"Home Prices","home-prices",{"id":65,"name":66,"slug":67},11,"First-Time Buyers","first-time-buyers",{"id":69,"name":70,"slug":71},34,"Senior Market","senior-market",{"id":18,"name":19,"slug":20},{"id":74,"name":75,"slug":76},38,"Move-Up","move-up",{"id":78,"name":79,"slug":80},41,"For Sale by Owner","for-sale-by-owner",{"id":82,"name":83,"slug":84},42,"Featured","featured",{"id":86,"name":87,"slug":88},45,"New Construction","new-construction",{"id":90,"name":91,"slug":92},52,"Luxury \u002F Vacation","luxury--vacation",{"id":94,"name":95,"slug":96},53,"Rent vs. Buy","rent-vs-buy",{"id":98,"name":99,"slug":100},80,"Time-sensitive","time-sensitive",{"id":102,"name":103,"slug":104},81,"Outdated","outdated",{"id":106,"name":107,"slug":108},147,"Internal","internal",{"id":110,"name":111,"slug":112},148,"Do Not Autopost","do-not-autopost",{"id":114,"name":115,"slug":116},320,"Inventory","inventory",{"id":118,"name":119,"slug":120},321,"Agent Value","agent-value",{"id":122,"name":123,"slug":124},322,"Affordability","affordability",{"id":126,"name":127,"slug":128},323,"Buying Tips","buying-tips",{"id":130,"name":131,"slug":132},324,"Downsize","downsize",{"id":134,"name":135,"slug":136},325,"Economy","economy",{"id":138,"name":139,"slug":140},326,"Equity","equity",{"id":22,"name":23,"slug":24},{"id":143,"name":144,"slug":145},328,"Selling Tips","selling-tips",{"id":147,"name":148,"slug":149},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":151,"name":152,"slug":153},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]