"At this point, 6% mortgage rates by the end of 2024 seem unlikely," said Jacob Channel, senior economist at Lending Tree. "The uncertainty brought about by the results of the pre

Home buyers may have to wait until 2025 for mortgage rates to decrease. The average 30-year mortgage rate rose to 6.84% last week, continuing its consistent weekly increase since September. The housing market during the past two years doesn’t yet appear to be gathering major momentum.