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Secure Your Future: Mortgage Rates Rose in 2023, 2024 Housing Market Predictions 2024 Housing Market Predictions

By Nurielle Auguste

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© 2023 Barbara Helgason

Syracuse, NY- In 2023, there has been an increase in mortgage rates. Real estate analysts and financial experts are keeping a close eye on the market, and based on their projections for the housing scene in 2024, it looks like this might be a good moment to  become a homeowner. 

We spoke to Syracuse real estate agent Wan’que Green, who shared her insights.

The Mortgage Bankers Association predicts 30-year mortgage rates to decline by 6.1% towards the end of the year.

00:00 (NCC Reporter Nurielle Auguste)
2023 has been a rough year for the housing market with the surge of mortgage and interest rates. But what does 2024 hold? We asked Syracuse real estate agent, Wan’que Green.

00:13 (Wan’que Green)
“They’re looking to cut interest rates quite a few times in 2024.”

00:18 (NCC Reporter Nurielle Auguste)
Low home inventory is a chronic problem in the U.S. But experts say you might want to buy earlier in the year to avoid competition.

00:28 (Wan’que Green)
If you are in a position to buy now, like right now then go ahead and do it.

00:33 (NCC Reporter Nurielle Auguste)
For those who already own homes, the Mortgage Bankers Association predicts 30-year rates starting in 2024 at 7.1% and gradually declining to 6.1% by the end of the year. I’m Nurielle Auguste, NCC News.

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