Mortgage Interest Rates

The 30-year fixed-rate mortgage dropped to 6.08% during the week ending Sept. 27. Mortgage rates have now fallen to the lowest levels in the past 18 months. NAHB is forecasting sustained, sub-6% mortgage interest rates will occur in the second quarter of 2025. (NAHB previously forecast this would not occur until the fourth quarter of 2025.)

However, faced with record-high prices for homes, many would-be buyers continue to stay on the sidelines until housing affordability conditions improve further.