Biggest Mistake Buyers are making today

…waiting for mortgage rates to go back to historical lows. 

In February 2019, 30-year fixed mortgage rates were between 4.44%-4.56%, according to Mortgage News Daily. During the pandemic, rates dropped even more to 3% and even lower in some instances. 

However, mortgage rates that low aren’t normal, and it’s unlikely they will return to pre-pandemic levels (under 5%) anytime soon. 

During the San Francisco Federal Reserve Bank’s Macroeconomics and Monetary Policy Conference on March 29, 2024, Fed Chair Jerome Powell said

“My own expectation is I don’t think rates will go back down to the very, very low level they were at before the pandemic.”

So, what’s a more realistic outlook? Current end-of-year projections for 30-year fixed mortgage rates are as follows:

Mortgage Bankers Association: 6.1%

Fannie Mae: 6.4%

Wells Fargo: 6.2%

Would it help if we broke down the monthly payment at today’s rates? If so, simply fill out the info below!  

Yes! Please help me figure out what my mortgage payment would be.

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