Over the past few years, prospective homebuyers have found themselves dumbfounded by the daunting obstacles to becoming a homeowner. The trifecta of troubling circumstances began in 2022 and continued into 2023 -  low inventory, a surge in mortgage rates, and soaring home prices. Individually these factors have the power to dissuade an energetic homebuyer, but combined, they put the squeeze on affordability and caused the industry as a whole to scratch its head in disbelief. 

Will mortgage rates rise or fall in 2024? That’s the million dollar question and we have some thoughts to share.