Major forecasters — including Wells Fargo, Fannie Mae, and the MBA — expect rates to remain in the mid-to-high 6% range through 2025.

NAR and Realtor.com see gradual easing, with averages near 6.4% in late 2025 and around 6.1% by 2026, improving affordability and buyer demand.

Morgan Stanley projects lower Treasury yields will pull mortgage rates down further, while Freddie Mac expects the “lock-in effect” to fade as listings rise.

Overall, experts agree on a steady, sustainable rate decline supported by moderating inflation, softer Fed policy, and stronger housing market balance.