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By Q4 2025, Fannie Mae expects the 30-year fixed mortgage rate will average out at 6.2%. The MBA expects 6.0%, while Wells Fargo forecasts 5.9%. Simply put, all three firms expect a mild mortgage rate decrease over the next 18 months.

🏠 Bright start to the New Year! Despite federal holidays slowing things down, mortgage application activity is on the rise. According to MBA data, we even saw a 3.7% uptick in the Market Composite Index in the past week! Though refinances dropped, purchase loan activity is going strong, a sign that buyers are keen to lock in their plans early this season. Mortgage rates may have slightly climbed, but the momentum isn't slowing down 🌟 Go check out our latest blog for your dose of mortgage market insights! #HomeOwnership #MortgageTrends #MarketUpdate #RealEstateNews #NewYearGoals

"With high mortgage rates and surging home prices tamping down market activity, we expect to see a subdued spring buying season continue throughout May, despite inventory increases," - Jeremy Sicklick.   As the housing market navigates these challenges, it's crucial for buyers, sellers, and industry professionals to stay informed and adaptable. Read the full exclusive from National Mortgage News here! 👇

Mortgage Rates Update - January 2024 Edition In this month's mortgage rates forecast, we're seeing a significant shift from the highs of 7.79% in 2023 to a more favorable 6.60% as of January 18, according to Freddie Mac. The Federal Open Market Committee (FOMC) has maintained a rate-hike pause, keeping the benchmark interest rate between 5.25% and 5.5%. Experts predict a continued easing of mortgage rates in 2024 as inflation recedes and the possibility of Fed rate cuts looms. Danielle Hale, Chief Economist at Realtor.com, suggests rates could approach 6.5% by year-end, providing relief for homebuyers. Despite this positive trend, high rates and home prices may still pose challenges for buyers and sellers in 2024. However, the potential for a 56% jump in refinance volume is anticipated once the Fed implements rate cuts, offering significant savings for homeowners. Considering refinancing? Bank of America's Matt Vernon advises evaluating current rates and economic conditions. Pro tip: Refinancing can be financially savvy if rates are at least 1% lower than your current rate. Explore the latest mortgage rates for January 2024: 30-year fixed: 7.12% 15-year fixed: 6.55% 30-year jumbo: 7.32% 5/1 ARM: 5.96% Discover more insights on refinance activity, tips for securing lower rates, and predictions for the next 5 years Remember, staying informed and shopping around for the best mortgage rates can save you substantial money over time. Happy home financing! To learn more: Forbes #hlri #refinancemortgage #mortgagerates #january2024 #tips #homefinancing

📊 Mortgage Rate Analysis 🏡 Here's a look at the recent trends in mortgage rates based on the Rate Index provided through Mortgage News Daily: 📆 Date: 2024-01-31 🔹 30 Yr. Fixed: 6.75% (⬇️ 0.12% D/D) 🔹 15 Yr. Fixed: 6.18% (⬇️ 0.11% D/D) 🔹 30 Yr. FHA: 6.05% (⬇️ 0.11% D/D) In the past 5 to 10 days, we've seen a downward trend in mortgage rates, which is favorable for borrowers. The most recent data shows a significant decrease of 0.12% in the 30 Yr. Fixed rate and a 0.11% decrease in both the 15 Yr. Fixed and 30 Yr. FHA rates. This recent drop in rates signals a good time for borrowers to explore their mortgage options and take advantage of potentially more affordable rates. Remember, if your lender is offering you a higher rate than the index rate shown here, it may be wise to seek a second opinion. Connect with Exhale Lending for a customized rate quote today! ⚠️ Disclaimer: This is NOT a rate quote. It is a 30-day plot of a Rate Index provided through Mortgage News Daily (see source link below). The index is based on a national survey of lenders on a "top tier" borrower scenario and adjusted to a "Zero Points" interest rate. 🔗 Source: https://lnkd.in/g7y4YQ95 #ExhaleLending #FirstTimeHomeBuyers #MortgageRates #RealEstate #HomeLoan #RateIndex #Finances #HomeOwnership

https://lnkd.in/egByf7f4 Interesting shifts in the mortgage landscape this week: The 30-year fixed rate has eased to 6.50%, continuing a downward trend we've seen over the past month. While this has spurred a 90% year-over-year jump in refinancing applications, we're seeing a 15% week-over-week dip. It seems the initial rush might be cooling off. On the home buying front, purchase applications have hit their lowest point since February, down 8% from last year. This suggests buyers are becoming more selective, even with improved rates. Curious about how these shifts might affect your financial picture? Let's have a conversation! #MortgageRates #HousingMarket #FinancialStrategy #EconomicTrends Source: https://lnkd.in/d6kmT2bB

The average 30-year fixed mortgage rate as of Friday is 6.91%. By the final quarter of 2025, Fannie Mae expects that to slide to 6.0%. While Wells Faro’s model expects 5.8%, and the Mortgage Bankers Association estimates 5.5%. IF those forecasts come to fruition (take all forecasts with a grain of salt), it’d mean that housing affordability would still remain strained in 2024 and 2025. “The housing market is likely to continue to face the dual affordability constraints of high home prices and elevated interest rates in 2024… Hotter-than-expected inflation data and strong payroll numbers are likely to apply more upward pressure to mortgage rates this year than we'd previously forecast, as markets continue to evolve their expectations of future monetary policy. Still, while we don’t expect a dramatic surge in the supply of homes for sale, we do anticipate an increase in the level of market transactions relative to 2023—even if mortgage rates remain elevated,” wrote Doug Duncan, chief economist of Fannie Mae, on Tuesday. Inflation will continue to increase housing prices in 2024 and 2024. Waiting to purchase or delaying meeting needs may not make the most sense. Not sure what to do? Let's chat to see what your mortgage payment would look like on a new purchase. You may be surprised!

Exciting news for homeowners and buyers! Mortgage forecasters have significantly reduced their predicted rates for the end of 2024, which could mean a fantastic opportunity for those looking to enter the housing market or refinance. This shift offers hope for a more affordable landscape in the coming years. Stay informed about these trends and how they can impact your financial decisions. Read more here: https://okt.to/k7VRBG

The real estate market is currently displaying a notable resilience, despite the slight uptick in the average contract interest rate for 30-year fixed-rate mortgages. At the year's onset, there was a surge of almost 10% in mortgage demand, which is a nuanced narrative challenging the prevailing discourse of an impending housing downturn. The market seems to be adapting to the evolving conditions, and this is evident by the 19% spike in applications for home loan refinancing and a 6% uptick in mortgage applications for home purchases, indicating a sustained level of buyer engagement. Although the prospect of rising interest rates lingers, the tangible increase in demand from buyers who had initially held back due to the elevated rate environment adds a layer of complexity to the narrative. Real estate agents have reported this surge as a signal of market adjustment rather than a housing recession. This underscores the adaptive nature of both buyers and the industry in the face of evolving conditions. It is crucial to recognize that the real estate market is a dynamic ecosystem influenced by various factors. Therefore, this nuanced response warrants a careful evaluation before drawing conclusions about the direction of home prices. #realestateinsights #markettrends #homebuyers #housingtrends #mortgagerates

Even with a slight increase in mortgage rates, they remain well below last year's levels. Thanks to these declining rates, applications are soaring with a nearly 17% increase. Consumer spending is strong, and inflation has dipped below 3% for the first time in over three years! This positive movement indicates good direction for the market and offers new opportunities for homebuyers. Read more insights in this week's mortgage report!