Housing Market Predictions For The Next 5 Years – Bankrate.com
It’s been a wild real estate ride over the last few years. After a red-hot market characterized by very low interest rates and frenzied bidding wars, mortgage rates increased to their highest level in more than 20 years. The average rate for a 30-year mortgage more than doubled between August 2021, when it was just 3 percent, and October 2023, when it reached 8 percent. Rates were hovering at around 7 percent as of April 2024. As you might imagine, this trend has led to a slowdown in buying activity.…
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