top of page
Notebook and Pen


Laura Wucher Pleasant Hill Realtor

Laura Wucher Pleasant Hill Real Estate Agent

Rollercoaster Ride of Mortgage Rates


It's been an interesting ride in 2023! The rollercoaster ride of mortgage rates seems to have taken a breather, bringing a sense of relief for both potential homebuyers and sellers. After reaching a high of 7.79% in October, mortgage rates showed signs of a downturn, closing November at 7.22%, as reported by Freddie Mac's latest weekly data.

This shift in the trajectory of mortgage rates offers hope for a housing market that has faced considerable challenges throughout the year. While the easing of rates is a positive development, many buyers and sellers are wondering how low interest rates will go—and when.

Obviously, no one has a crystal ball. Forbes has gathered information from leading economists and organizations to provide further insight into mortgage rate projections. There’s optimism ahead! I'm excited for 2024.

From Forbes:

Here is how some experts predict market conditions will affect the average 30-year, fixed-rate mortgage in 2024:

National Association of Realtors chief economist Lawrence Yun. “Mortgage rates look to head towards 7% in a few months and into the 6% range by the spring of 2024.”

RSM U.S. real estate senior analyst Crystal Sunbury. “Assuming no significant economic shocks, mortgage rates are likely to continue slowly easing over the next few months, to reach a 6% to 6.5% range by spring of 2024.”

Mortgage Bankers Association (MBA). MBA’s baseline forecast is for mortgage rates to end 2024 at 6.1% and reach 5.5% at the end of 2025 as Treasury rates decline and the spread narrows.

Bank of America head of retail lending Matt Vernon. “The Fed’s likely decision to cut rates in 2024 would be a key factor that could breathe new life into the housing market. However, it’s important to note that significant drops in mortgage rates might not happen in the early months of 2024. If any reductions occur, they are likely to be gradual, possibly beginning in the latter part of the year.”

Palisades Group chief investment officer and co-founder Jack Macdowell. “Our best guess is that mortgage rates will remain in the 7% to 7.25% range throughout Q1 2024. This view is based on the idea that inflation is trending positively toward the 2% target and the Federal Reserve is likely done raising interest rates in 2023.”

Ally Home president Glenn Brunker. “With the current mortgage rates pricing around 7.5% today, we can expect them to be nearing their top and begin their descent in the first half of 2024.”


Navigating these nuanced market conditions requires a blend of strategic planning, financial acumen, and a keen awareness of the broader economic landscape. The Laura Wucher Real Estate Team offers a wealth of experience for both buyers and sellers and that’s exactly what you need in today’s market!

Reach out today and we can strategize your next best month.


Laura Wucher Pleasant Hill Realtor

bottom of page