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Has your house been sitting on the market longer than expected? If so,
you’re bound to be frustrated by now. Maybe you’re even thinking it’s time
to pull the listing and wait to see what 2025 brings. But what you may not
realize is, the decision to hold off could actually cost you. Here’s a look
at why staying the course could be the smarter move.

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Learn how to create a digital scrapbook of your home-buying journey! Learn
how to organize photos and store key documents in the process.

Ever thought about living in the same house with your grandparents,
parents, or other loved ones? You’re not alone. A lot of people are
choosing to buy multi-generational homes where everyone can live together.
Let’s check out why they think it’s a good idea to see if it might be a
good fit for you, too.

Imagine waking up to breathtaking water views every morning, sipping coffee
on your private screened balcony, and enjoying the luxury lifestyle that
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Latest 2025 mortgage rate trends and expert analysis for Fort Lauderdale
homebuyers. Learn how current rates impact your buying power and get
strategic advice from Scott Lehr and The Listing Team.

What Mortgage Rate Are You Waiting For?

You won’t find anyone who’s going to argue that mortgage rates have had a
big impact on housing affordability over the past couple of years. But
there is hope on the horizon. Rates have actually started to come down.
And, recently they hit the lowest point we’ve seen in 2024, according to
Freddie Mac (see graph below):

And if you’re thinking about buying a home, that may leave you wondering:
how much lower are they going to go? Here’s some information that can help
you know what to expect.

Expert Projections for Mortgage Rates

Experts say the overall downward trend should continue as long as inflation
and the economy keeps cooling. But as new reports come out on those key
indicators, there’s going to be some volatility here and there.

What you need to remember is it’s not wise to let those blips distract you
from the larger trend. Rates are still down roughly a full percentage point
from the recent peak compared to May.

And the general consensus is that rates in the low 6s are possible in the
months ahead, it just depends on what happens with the economy and what the
Federal Reserve decides to do moving forward.

Most experts are already starting to revise their 2024 mortgage rate
forecasts to be more optimistic that lower rates are ahead. For example,
Realtor.com says:

“Mortgage rates have been revised slightly lower as signals from the
economy suggest that it will be appropriate for the Fed to begin to cut
its Federal Funds rate in 2024. Our yearly mortgage rate average
forecast is down to 6.7%, and we revised our year-end forecast to 6.3%
from 6.5%.”

Know Your Number for Mortgage Rates

So, what does this mean for you and your plans to move? If you’ve been
holding out and waiting for rates to come down, know that it’s already
happening. You just have to decide, based on the expert projections and
your own budget, when you’ll be willing to jump back in. As Sam Khater,
Chief Economist at Freddie Mac, says:

“The decline in mortgage rates does increase prospective homebuyers’
purchasing power and should begin to pique their interest in making a
move.”

As a next step, ask yourself this: what number do I want to see rates hit
before I’m ready to move?

Maybe it’s 6.25%. Maybe it’s 6.0%. Or maybe it’s once they hit 5.99%. The
exact percentage where you feel comfortable kicking off your search again
is personal. Once you have that number in mind, you don’t need to follow
rates yourself and wait for it to become a reality.

Instead, connect with a local real estate professional. They’ll help you
stay up to date on what’s happening and have a conversation about when to
make your move. And once rates hit your target, they’ll be the first to let
you know.

Bottom Line

If you’ve put your moving plans on hold because of higher mortgage rates,
think about the number you want to see rates hit that would make you
re-enter the market.

Once you have that number in mind, let’s connect so you have someone on
your side to let you know when we get there.

Want to avoid making some of the top seller mistakes? The key is working
with a real estate agent so you don’t overprice your house or skip
necessary repairs. Let’s connect so you can avoid making these costly
mistakes.