Here's What 'We Shouldn't Expect' From Mortgage Rates in April 2024, One Pro Tells Us –MarketWatch


Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors®, believes mortgage rates will stay in the current range of mid-6% to 7% for the first half of 2024. "There's no sizable change expected until the later part of 2024," says Lautz. Indeed, mortgage rates are a full percentage point lower than the most recent peak in October 2023. "If potential home sellers have been in their home, wanting to make a move but waiting for rates to ease, this could be enough of a drop for them to make their move now," says Lautz. The most important consideration to make is whether a mortgage fits into your budget. "Don't stretch yourself to afford a mortgage. If you need to wait for rates to come down, realize that prices could go up in the interim, making affordability worse. Remember, too, that mortgage rates can vary a lot depending on the lender and the borrower, so make sure to shop around for the best rate," says Lautz.

Real the full article