Expert poll: Mortgage rate trend predictions for July 18 - 23, 2024
![Image of houses on a sunny day](https://www.bankrate.com/f/102997/1280x720/186cee04e8/homes_refresh_1_31_rti.jpg)
Go up | 13% |
---|---|
Stay the same | 53% |
Go down | 33% |
Mortgage rate watchers aren’t expecting any major movement in rates this upcoming week, according to a Bankrate poll. Fifty-three percent of respondents expect mortgage rates to stay the same, while 33 percent expect rates to retreat and 13 percent expect rates to rise.
The average 30-year fixed rate was 6.92 percent as of July 17, according to Bankrate’s national survey of large lenders — a big fall-off from last week’s average of 7.04 percent. The 30-year average hasn’t tread below 7 percent since February.
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Rate Trend Index
Experts predict where mortgage rates are headed
Week of July 18 - 23, 2024
Go up | 13% |
---|---|
Stay the same | 53% |
Go down | 33% |
Stocks are up. Ten-year yields are down. Long-term mortgage rates have been trending down as well. This week good news should continue and mortgage rates will go down again.
— Ken H. Johnson, Real estate economist, Florida Atlantic University
13% say rates will go up
![Richard Martin photo](https://www.bankrate.com/brp/2024/06/12160433/Rich.jpg)
![Sean P. Salter, Ph.D. photo](https://www.bankrate.com/2023/05/24164225/sean-salter.jpeg)
![Richard Martin photo](https://www.bankrate.com/brp/2024/06/12160433/Rich.jpg)
Richard Martin
Director of Home Lending, Curinos
My prediction is for rates to move higher this week on the back of disappointing housing starts and jobless claims reports.
![Sean P. Salter, Ph.D. photo](https://www.bankrate.com/2023/05/24164225/sean-salter.jpeg)
Sean P. Salter, Ph.D.
Associate Professor of Finance and Dale Carnegie Trainer, Middle Tennessee State University , Murfreesboro , TN
Higher. The trend of mortgage rates moving higher since last year will continue. While rates may “yo-yo,” I expect the general upward trend to continue until we see some significant action from the Federal Reserve.
33% say rates will go down
![Melissa Cohn photo](https://www.bankrate.com/2023/08/09155015/melissa-cohn-e1691610633550.jpg)
![Ken H. Johnson photo](https://www.bankrate.com/2020/06/26132814/key_johnson_85x85.png)
![Jeff Lazerson photo](https://www.bankrate.com/2020/06/26132810/jeff_lazerson_85x85.png)
![Greg McBride photo](https://www.bankrate.com/2017/09/25093120/rate-trend-index_GregMcBride-82x85.jpg)
![Joel Naroff photo](https://www.bankrate.com/2020/04/28155604/JoelNaroff-82x85.jpg)
![Melissa Cohn photo](https://www.bankrate.com/2023/08/09155015/melissa-cohn-e1691610633550.jpg)
Melissa Cohn
Regional Vice President, William Raveis Mortgage
Mortgage rates will continue to decline this week as Federal Reserve members including Chairman Powell are indicating that they are getting closer to a rate cut. Bonds have rallied and mortgage rates have followed suit. Expectations are now 95 percent that the Fed will cut rates in September as long as data continues to reveal that the economy and inflation continue to soften.
![Ken H. Johnson photo](https://www.bankrate.com/2020/06/26132814/key_johnson_85x85.png)
Ken H. Johnson
Real estate economist, Florida Atlantic University
Stocks are up. Ten-year yields are down. Long-term mortgage rates have been trending down as well. This week good news should continue and mortgage rates will go down again.
![Jeff Lazerson photo](https://www.bankrate.com/2020/06/26132810/jeff_lazerson_85x85.png)
![Greg McBride photo](https://www.bankrate.com/2017/09/25093120/rate-trend-index_GregMcBride-82x85.jpg)
Greg McBride
CFA, chief financial analyst, Bankrate.com
Down. Inflation pressures are easing and we’re lining up for a September Fed rate cut. Election-season volatility will bring about the occasional choppiness, but the general trend is lower.
![Joel Naroff photo](https://www.bankrate.com/2020/04/28155604/JoelNaroff-82x85.jpg)
Joel Naroff
President and chief economist, Naroff Economic Advisors , Holland , Pennsylvania
Down. It looks like the markets are expecting inflation to continue decelerating and a fall rate cut.
53% say unchanged–
![Michael Becker photo](https://www.bankrate.com/2017/11/06122659/MichaelBecker-82x85.jpg)
![Heather Devoto photo](https://www.bankrate.com/2023/07/26152825/Heather-Lifestyle-close-up-digital1-e1690399723284.jpg)
![Derek Egeberg photo](https://www.bankrate.com/2022/02/08105909/derek-egeberg-sm.jpg)
![Dick Lepre photo](https://www.bankrate.com/2020/04/28155919/DickLepre-82x85.jpg)
![Denise McManus photo](https://www.bankrate.com/brp/2024/05/28133053/Denise-McManus-Headshot-1x1-1.jpg)
![Les Parker photo](https://www.bankrate.com/2017/11/06121610/LesParker-82x85.jpg)
![Robert J. Smith photo](https://www.bankrate.com/2024/05/08155103/Bob-Smith_Advisor-Credit-Exchange_headshot.jpg)
![Nancy Vanden Houton, CFA photo](https://www.bankrate.com/2020/04/28155325/NancyVandenHouton-82x85.jpg)
![Michael Becker photo](https://www.bankrate.com/2017/11/06122659/MichaelBecker-82x85.jpg)
Michael Becker
Branch manager, Sierra Pacific Mortgage , White Marsh , Maryland
After mortgage rates dropping a good bit over the last few weeks, and the next week not having any economic reports that will possibly move markets, I think rates will be flat in the coming week.
![Heather Devoto photo](https://www.bankrate.com/2023/07/26152825/Heather-Lifestyle-close-up-digital1-e1690399723284.jpg)
Heather Devoto
Vice President, Branch Manager, First Home Mortgage , McLean , VA
I expect mortgage rates to stay pretty stable in the coming week, with a possibility of decreasing. Rates have been trending down over the past week as inflation cools off and the Fed takes a careful approach to policy changes. Investors are feeling more confident, especially with the possibility of a Fed rate cut by the end of the year.
![Derek Egeberg photo](https://www.bankrate.com/2022/02/08105909/derek-egeberg-sm.jpg)
Derek Egeberg
Branch Manager, Guild Mortgage , Yuma , Arizona
Unchanged. With the current amount of competing news, watch for the market to remain flat.
![Dick Lepre photo](https://www.bankrate.com/2020/04/28155919/DickLepre-82x85.jpg)
Dick Lepre
Senior Loan Officer, Realfinity , Alamo , CA
Flat. We just had an 8-day winning streak for mortgage rates which sent the average rate down 0.125 percent. Look for the 30-year fixed to stay at 6.75 percent to 6.875 percent in the coming week.
![Denise McManus photo](https://www.bankrate.com/brp/2024/05/28133053/Denise-McManus-Headshot-1x1-1.jpg)
Denise McManus
Global Real Estate Advisor, Engel & Voelkers & Senior Lender, Xpert Home Lending, Engel & Voelkers
The market is slowly getting ready for rate reductions and we have begun to see adjustments. For the week ahead, I predict the rates will continue to dip in a positive direction.
![Les Parker photo](https://www.bankrate.com/2017/11/06121610/LesParker-82x85.jpg)
Les Parker
CMB, managing director, Transformational Mortgage Solutions , Jacksonville , Florida
Mortgage rates will go nowhere. Here’s a parody of “No Surprises,” the 1997 classic by Radiohead: “Rates take a quiet life. A handshake of common two Fed eases. No alarms and no surprises.” Mortgage rates are content over the Fed, which will be higher for a little longer.
![Robert J. Smith photo](https://www.bankrate.com/2024/05/08155103/Bob-Smith_Advisor-Credit-Exchange_headshot.jpg)
Robert J. Smith
Head of Real Estate, Advisor Credit Exchange
Rates have rallied since the positive inflation news last week. Expect 30-year mortgage rates to remain relatively unchanged (under 7 percent) for the next week with little relevant economic data on the horizon.
![Nancy Vanden Houton, CFA photo](https://www.bankrate.com/2020/04/28155325/NancyVandenHouton-82x85.jpg)
Nancy Vanden Houton, CFA
CFA, Senior Research Analyst, Stone & McCarthy Research Associates , New York , NY
[I expect rates to stay] the same.