Realtor.com projects a slight decrease in mortgage rates throughout 2024, with an average rate of 6.8% for the year, gradually reaching 6.5% by the end of the year. This forecast has potential implications for prospective homebuyers and homeowners looking to refinance. The prediction prompts questions about whether 2024 could become a more accessible year for aspiring homeowners. However, it remains to be seen how other factors, such as housing prices and economic conditions, will impact affordability in the real estate market.
Summary:
– Realtor.com predicts average mortgage rates of 6.8% in 2024, gradually declining to 6.5% by year-end.
– Implications for prospective homebuyers and those considering refinancing.
– Raises the question of whether 2024 will be a more affordable year for homeownership.
– Other factors, such as housing prices and economic conditions, may affect overall affordability in the real estate market.
You can read this full article at: https://wrenews.com/will-2024-be-the-year-of-affordable-homeownership/
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