General World News

Mortgage rates poised to drop to 5.5% in 2024: Bloomberg

Most economists forecast mortgage rates to decline in 2024, stoking optimism about the housing market.

According to the newest Bloomberg Markets Live Pulse Survey (MLIV Pulse), the rate on the 30-year fixed mortgage will fall to 5.5% by the end of this year. Most forecasts call for rates to bounce within the 6% to 7% range in 2024, marking the first annualized decline after three straight years of gains.

In 2023, elevated mortgage rates froze sales of existing homes, which slid to their lowest pace since 1995. In 2023, details ⇒

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