If you were waiting for mortgage interest rates to drop before buying a home, experts suggest you might want to follow the projections of national housing economists. Jessica Lautz, Deputy Chief Economist for the National Association of Realtors, recently updated the Collin County Association of Realtors on what to expect in the housing market for 2025. According to Lautz, mortgage rates are expected to stabilize in the high 6% range, with the possibility of a slight dip to 6.5%. However, they are unlikely to fall to 5%, as some prospective buyers had hoped. “There’s no need to wait on the sidelines expecting that rates are going to drop significantly,” Lautz said. “We expect rates to remain in the 6% range, and home prices are likely to increase.” Despite the steady rates, there is some good news for potential buyers. Lautz anticipates an increase in housing inventory and more people entering the market, which could lead to more options for buyers compared to previous years. She also says the current rates are much better than the 8% we saw in 2023. She listed these key takeaways for the 2025 housing market: Mortgage rates are stable in the high 6% range. Expected increase in home prices. More inventory is available. Increased buyer demand. Experts advise potential homebuyers to assess their financial situation, discuss options with a mortgage lender and realtor, and consider entering the market rather than waiting for lower rates that may not materialize this year. You can follow updates related to the housing market from the National Association of Realtors.