#7 - Do dropping mortgage rates kickstart the real estate market?

The 30-year mortgage rate will fall below 7% by April 2024, Realtor.com says in its housing forecast for next year.The average mortgage rate in 2024 is expected to be 6.8%, and the 30-year may fall to as low as 6.5% by the end of the year, according to Realtor.com’s report.“We’re gonna to start to see some relief for buyers who have been priced out,” Danielle Hale, chief economist at Realtor.com, told MarketWatch. “It’s still expensive to buy a house, but instead of getting more expensive, we’ve turned the corner,” she added. “We’re starting to see housing get less expensive.”