It’s been 11 months since I last commented on mortgage interest rates. And well, not much has changed. Rates continue to be higher than normal, inflation keeps chugging along, Feds keep doing the same thing with, shockingly, the same results (nothing), while teasing that they may start to lower rates soon. Higher interest rates mean higher borrowing costs for home buyers, translating into elevated mortgage rates. This policy of increasing rates has led to more expensive home loans, dampening demand in the housing market.

Although 2024 does look like it will be better than the last three years, it’s likely that we won’t see significant improvement until, sigh, 2025.