You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac.
And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.
Expert Projections for Mortgage Rates
Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there.
What you need to remember is it’s not wise to let those blips distract you from the larger trend. Rates are still down roughly a full percentage point from the recent peak compared to May.
Most experts are already starting to revise their 2024 mortgage rate forecasts to be more optimistic that lower rates are ahead. For example, Realtor.com says:
“Mortgage rates have been revised slightly lower as signals from the economy suggest that it will be appropriate for the Fed to begin to cut its Federal Funds rate in 2024. Our yearly mortgage rate average forecast is down to 6.7%, and we revised our year-end forecast to 6.3% from 6.5%.”
Read full article on KeepingCurrentMatters.com.
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Choosing your community is important, and Fireside Farms offers beautiful award-winning homes in an area that has an excellent school system.
Excellent Schools
Forsyth County School District in Georgia offers a comprehensive educational experience with 41 schools and a focus on preparing students for college and future careers. The district provides diverse academic programs, extracurricular activities, and advanced courses. With a commitment to technology integration and a high graduation rate, it ensures students are well-equipped for the digital age. The district’s excellence is seen in schools like Silver City Elementary, North Forsyth Middle, and North Forsyth High, making them top choices for families seeking quality education. Find out more
About Dawsonville
Dawsonville, Georgia offers diverse activities for adventure seekers and relaxation. North Georgia Premium Outlets provide a wide range of stores for shopping. Outdoor enthusiasts can enjoy camping, fishing at Thompson Creek Park and Toto Creek Campground, and hiking the Appalachian Trail. The culinary scene offers various dining options from French cuisine to American pizza, ensuring a memorable experience for all visitors.
Fireside Farms
7470 AC Smith Rd
North Forsyth, GA 30534
Call us today to make this your new home community! Or register here to get more information