Mortgage Lender Predictions for 2025: What to Expect
Saturday, 31 August 2024, 07:20
Understanding Current Mortgage Rates
In the post-pandemic era, homebuyers faced unprecedented challenges, as mortgage rates climbed to the highest levels since the early 2000s. Average rates in the 6.00% to 7.50% range left many would-be owners sitting on the sidelines.
What Experts Predict for 2025
According to BMO Financial Group, 71% of prospective buyers postponed their purchase in hopes of a future rate cut. This high-rate environment also impacted the supply of homes, leaving fewer options for those still willing to buy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.