A question I am often asked is whether we will see a meaningful drop in mortgage interest rates in 2025.  

A few thoughts leading up to the Fed's meeting tomorrow...

1.  We're most of the way through 2025 now... so there isn't much of a window remaining for mortgage interest rates to drop significantly this year.

2.  We have seen relatively steady (though small) declines in rates over the past three months -- which may have been in anticipation of the Fed dropping the federal fund rate.  So, we might not see all that much of a further decline in mortgage rates rates after the Fed meeting.

3.  At 6.35%, we're currently well below the 12 month average of 6.7%, though not as low as where we started the year.

So... will we see a significant further decline in mortgage interest rates?  Maybe?  But I would be pretty surprised to see us get down to (or below) 6% by year end.