Mortgage Rates Decline Slightly but Remain a Challenge for Buyers

Experts predict rates will stay between 6% and 7% in 2025, while economic uncertainty and rising home prices continue to strain affordability.

The average 30-year mortgage rate has dropped to 6.76%, its lowest since December 2024, but remains far from pre-pandemic lows.
Economic slowdown and uncertainty over tariffs from the Trump administration are influencing mortgage rate trends, with inflation still a concern.
Housing inventory has increased, offering buyers more choices, but affordability remains constrained by high rates and rising prices.
Experts anticipate mortgage rates will hover between 6% and 7% through 2025, with significant rate reductions unlikely in the near future.
First-time buyers may benefit from falling rents and seller concessions, but overall home sales are expected to see only modest growth this year.