Will Mortgage Rates Go Down in 2025?

Mortgage rates may decline this year, but not by much. Analysts expect the 30-year fixed rate to stay in the mid-6% range throughout 2025 and 2026, although the forecast is far from guaranteed. In January 2023, some experts predicted that rates would be around 4.5% by the end of 2024, which obviously didn't come to pass.

Federal Reserve Chair Jerome Powell says it best: "Forecasts are highly uncertain. Forecasting is very difficult. Forecasters are a humble lot with much to be humble about."

Rates will stay relatively high as long as the economy keeps outpacing expectations – and either way, economists don't anticipate a dip into the 3% or 4% range in the foreseeable future. Here are the mortgage rate predictions over the next two years: