Client Update on Interest Rates

Quick update for you on interest rates, we are keeping an eye on the forecast for everyone who purchased last year and is waiting to refinance or is looking at making a new purchasing this year.

Fannie Mae forecasts the following 30-year fixed mortgage rates. Nearly .06% decrease from the previous forecast across the board. While nothing is certain we see this as positive news for this year.

6.4% in Q1 2024

6.2% in Q2 2024

6.0% in Q3 2024

5.8% in Q4 2024

5.7% in Q1 2025

5.6% in Q2 2025

5.6% in Q3 2025

5.5% in Q4 2025

*Source: Fannie Mae January 2023 Forecast

Reach out for help with an analysis on your current loan to see how much you could save. For new buyers the reduction in rate may be washed out by an increased home price. Best to weigh all the options and timing on this.