30-year mortgage rates

Prospective homebuyers are likely to face 30-year conventional mortgage rates above 7%, though experts predict a drop to around 6.40% by the end of 2024. Strategies to secure better rates include increasing down payments and comparing loan options. Inflation and Federal Reserve policies are key influencers, with a further drop to around 6% expected by year-end. Understanding mortgage options, improving financial profiles, and refinancing existing mortgages can also help secure better rates.