Buyers Bet on Falling Mortgage Rates as 2025 Housing Market Hits Standstill – Will Relief Come?
The average 30-year fixed mortgage rate remains near 6.3%, more than double pandemic lows, despite widespread buyer optimism for a drop. Industry forecasts from the MBA and Fannie Mae see rates staying above 6% through 2025. Existing-home sales hit a 30-year low, with buyers largely holding off. The Federal Reserve’s recent rate cut has not eased mortgage costs, as Treasury yields stay elevated.