As the U.S. economy faces weakening conditions and inflation begins to cool, experts anticipate a decline in mortgage rates later this year. This projection is reinforced by expectations of interest rate cuts from the Federal Reserve. However, until tangible signs of economic slowdown emerge, interest rates are likely to remain elevated for an extended period. Forecasts suggest that the 30-year fixed mortgage rate could decrease to the mid-6% range by the conclusion of 2024, with the possibility of reaching the high-5% range by the end of 2025. Understanding the trajectory of mortgage interest rates for the remainder of the year is crucial in assessing its impact on the housing market as a whole. 2024 FORECAST 2025 FORECAST Fannie Mae 6.6% 6.1% Mortgage Bankers Association 6.4%* 5.9%* National Association of Home Builders 6.68% 6.01% National Association of Realtors 6.8% 6.2% Realtor.com 6.8% (6.5%*) — Wells Fargo 6.79% 6.09% *Denotes year-end rate. All others are annual averages. When...