Back in December 2024, housing experts predicted a decline in interest rates by Q1 of 2024. Here’s a comparison to see how those predictions panned out:

Predicted Rates (December 2024):

– Mortgage Bankers Association: 6.1%
– National Association of Realtors: 6.3%
– Fannie Mae: 6.7%

Actual Rates (April 2025):

Mortgage rates have adjusted slightly this week. 6.875% for the average 30-year fixed conventional home loan, FHA is at 6.50% & VA is at 6.49% for the week ending 4/25/2025, according to Freddie Mac. Source: Realtor.com

Interest rates haven’t dipped as much as originally anticipated. But growth in home prices have slowed, showing signs of stabilization in the market.

Here’s the takeaway: 

Waiting for significantly lower rates will likely push prices up as more buyers enter the market.

In today’s market, take advantage of:

1. Seller credits to reduce closing costs
2. Mortgage rate buy downs to lower your monthly mortgage payment.
3. Working with an experienced agent who will negotiate the most favorable terms for you.

Reach out to our family with questions – we’re here to be a resource!