After more than two years of steady declines, rates for 30-year fixed-rate mortgage loans reached a record low of 2.7% at the end of 2020, according to data from Freddie Mac. By the week ending ...

In 2021, we saw mortgage interest rates between 2% and 3% — some of the lowest rates we've ever had on record. Even now, mortgage rates hover around 7% for a 30-year conventional mortgage loan.

The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.

Mortgage Rate Forecast: Experts Say Rates Could Fall Below 6% This Year The housing market is already off to a better start in 2024. Katherine Watt Jan. 24, 2024 4:39 a.m. PT ...

Mortgage rates had been expected to gradually improve in 2025, but the Trump administration's inflationary tariffs, deficit spending and geopolitical maneuvering led to bleaker forecasts.

While rates have dropped since then, they remain historically high. As of February 6, the 30-year fixed mortgage rate was 6.89 percent, according to Freddie Mac.

However, as of July 30, rates stood at 6.75 percent. The Fed doesn’t directly set mortgage prices, but it does influence them. The central bank cut its benchmark rate three times last year.

To forecast whether 30-year mortgage rates will rise or fall in November, the Mortgage Reports asked experts from CoreLogic, Home Qualified, Realtor.com, First American, and CJ Patrick to weigh in.

Fannie Mae predicts rates will edge down to 6.5 percent by the end of the year, while the Mortgage Bankers Association expects 30-year rates will barely decrease, to 6.7 percent by the end of 2025.