Buying
When Will Mortgage Rates Go Down?
Probably not soon. Here is what large institutional forecasters expect, and how some buyers are skipping the wait.
By David Golovin · June 9, 2026 · 3 min read
The short answer
Where large institutional forecasters like Fannie Mae and the Mortgage Bankers Association expect rates to sit through 2028.
Where rates are today
About 6.5% as of June 2026, up from roughly 6% before the March spike.
30-year fixed rate, past 12 months
Source: Freddie Mac Primary Mortgage Market Survey
What large institutional forecasters say
Four of the most-watched housing forecasters, all calling for the low 6% range. Each links to its own forecast.
30-year fixed rate forecast for 2026
2026 average 30-year fixed rate, each forecaster’s June 2026 outlook.
Will rates hit 3% again?
Home prices keep climbing
Rates may hold, but prices are still forecast to rise.
Source: Fannie Mae Housing Forecast
How some buyers get a low rate now
When a seller already has a 2% to 4% loan, an assumable mortgage lets the buyer take it over: same rate, same balance. All FHA and VA loans qualify. Roots shows thousands of these homes, with many under 3-4%.
FAQ
When will mortgage rates go down to 5%?
The large institutions tracked here, including Fannie Mae and the Mortgage Bankers Association, do not expect the 30-year average to reach 5% before 2030. Most see it holding in the low 6% range through 2028.
Do Fed rate cuts lower mortgage rates?
Not directly. Mortgage rates track the 10-year Treasury yield, not the federal funds rate. Rates have even risen after Fed rate cuts.
Should I wait to buy a home for lower rates?
Waiting carries a cost. Home prices are forecast to keep rising, so a lower rate later can be offset by a higher price. Some buyers lower their rate now by assuming a seller’s existing loan instead of waiting.
How do some buyers get a sub-4% rate today?
By assuming a seller’s existing government-backed loan. The rate, balance, and payoff schedule transfer to the buyer. All FHA and VA loans are assumable. Shop now at Roots.