Mortgage Rate Trends and What They Mean for Your Home Purchase in Late 2024
As we approach 2025, mortgage rates have leveled off, with 30-year fixed rates around 6.5–7%. While these rates are still higher than recent lows, industry experts predict a gradual decline through 2024 as economic factors stabilize. This means that buyers may see slightly lower rates ahead, making this an opportune time to consider purchasing.
Why the Smith Mortgage Team is the Right Choice for You
At The Smith Mortgage Team, we go beyond simply securing your loan; we offer tailored guidance to help you choose the loan type that best aligns with your financial goals, whether you’re a first-time buyer, a veteran eligible for VA benefits, or someone considering an FHA or USDA loan. Our team specializes in the Pacific Northwest, providing local insights and support throughout the homebuying process. We’re dedicated to clear communication, consistent updates, and a smooth experience that sets you up for success.
Key Points:
Rate Outlook: Experts forecast a slow but steady decrease in mortgage rates in 2024.
Benefits of Different Loan Types: VA loans feature low rates with no PMI; FHA loans allow lower credit scores; USDA loans are ideal for rural buyers.
Let The Smith Mortgage Team help you make the most of current market trends. Our local knowledge and dedication to client success make us the ideal partner in your journey to homeownership.
