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High mortgage rates have been one of the key contributors to rising unaffordability in the housing market. A decrease in rates should have a stimulative effect on buying. But experts themselves don’t share a consensus on where rates will trend in 2025, only agreeing that the year should be a “bumpy” and “volatile” one for mortgage rates, CNBC reported.
Jessica Lautz, deputy chief economist and vice president of research at the National Association of REALTORS®, told CNBC, “Our expectation is that rates are going to be in the 6% range as we move into 2025.”