Mortgage rates are expected to stay around 7% in 2024, with a possibility of dropping later in the year.
"mortgage rates are kind of expected to stay around that 7% maybe the drop later in the year but we really don't know right now they're still at the 7% number"
Even with a few interest rate cuts by the Federal Reserve in the next 12 months, mortgage rates will not return to 3% or 4%.
"even if the Federal Reserve Bank were to cut interest interest rates a few times in the next 12 months this still doesn't mean the mortgage rates would go back down to 3 or 4%"
