Monthly news & updates

January 2024 | Volume XI, Issue 1

Uptick in Homes Sales Predicted for 2024

Rates are dropping. Freddie Mac's recent survey found that the average mortgage rate fell to 6.60% as of January 18th, the lowest level since May 2023. With the Federal Reserve signaling intention to cut rates three times this year, mortgage rates could follow.


Low inventory to continue. With would-be sellers still disincentivized from leaving their lower fixed-rate mortgages, limited inventory should continue to support home prices, which are expected to rise modestly.


Recovery begins. Prospective buyers are expected to take advantage of lower rates, with the Mortgage Bankers Association projecting a 22% increase in originations for 2024.


Planning to buy a home in 2024? Turn to the experts at National Iron Bank to get pre-qualified and shop with confidence.


Excerpt from Banker & Tradesman

National Iron Bank | IronBank.com

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