What are predicted rates for 2024?

Beyond 2025, the MBA's outlook remains cautiously optimistic. The group believes that mortgage rates could stabilize at this lower level, hovering around 5.8% in 2026. This stability is crucial for maintaining the health and accessibility of the housing market.

The Mortgage Bankers Association (MBA) has offered its predictions on the future trajectory of mortgage rates, aligning itself with the outlook shared by Fannie Mae. The MBA anticipates that by the end of 2024, mortgage rates will settle around 6.20%.

It's worth noting that these projections are subject to change, influenced by various factors such as inflation, economic growth, and global financial conditions. Nonetheless, the MBA's insights provide valuable insight into the potential direction of mortgage rates in the coming years.

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This projection marks a significant increase from current levels, reflecting the economic and financial market dynamics at play. Nonetheless, the MBA sees a silver lining, forecasting a gradual downward trend in mortgage rates throughout 2025.