Working Capital

The housing market has had *** tough year, but if you’re looking to buy *** home in 2025, experts predict there’s some good news. It’s going to be *** better year for home buyers. Lawrence Yon with the National Association of Realtors says more homes are expected to come onto the market, giving buyers more options, so more choices, more inventory that will lead to boosts and home sales. The other good news mortgage rates are expected to come down. As of last week, the average rate on *** 30 year fixed mortgage was 6.72% according to Freddie Mac, but Yo predicts those rates to come down closer to 6%, which can make *** big difference for your wallet. Even *** 0.5% point change in mortgage rate could mean about $150 savings in monthly mortgage costs. Here’s the bad news. Home prices aren’t expected to come down anytime soon. In fact, they’re expected to rise. The NAR predict. The median existing home sale price to be $410,700 in 2025, but Yo recommends buyers should still negotiate on the price and shop around for the best mortgage rate. Look for the mortgage lender who offers the best rates and even consider adjustable rate mortgage. And if you are in the market to buy *** home, Yon suggests not taking on large debt like *** car loan before you’re approved for *** home loan. For Consumer Watch, I’m Jen Sullivan.