Interest rates have always fluctuated, but on average they’ve hovered in the 5-10% range for the past three decades. Industry experts believe rates will potentially fall to the low 6 percent range by the end of 2024. We hope this helps bring some perspective if you’re contemplating buying or selling your home.
People still have the need (and desire!) to move so while interest rates may come down, home prices are expected to continue to rise especially with an increase in buyer demand. You can always consider “renting the rate” and buying now but refinancing later.