Real estate mortgage rates have declined to the lowest levels since December, but the housing market is still “largely stuck” – Jpmorgan Chase (NYSE: JPM)

Mortgage rates drop to the lowest levels since last December, but the demand for home loans stops. Here is a look at what experts expect for the next year.

What do you know: The average rate of mortgage for 30 years lasted to decrease to 6.88 % in the week ending on February 21, a decrease from 6.93 % in the previous week. According to the Mortgage Banking Association, last week Average It represents the lowest new level since December 2024 and compares to 7.03 % of the same period last year.

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“Treasury revenues have decreased on consumer spending data more soft as consumers feel less optimistic about the economy and the labor market. This prompted mortgage rates to a decrease, with a decrease in the fixed rate for 30 years to 6.88 per cent, which is the lowest rate since mid -December,” he said, “he said,” he said, “he said. Joel wasVice President of Business Administration and Vice President of Economists.

Although mortgage rates decrease slowly, the demand for home loans remains weak. Master data shows management

Analysts in Jpmorgan Chase & Co. Jpm See the housing market To survive “Largely stuck” until 2025, when interest rates and home prices are still high.

“The situation will not change until we get about 5 % mortgage rates, or even less,” he said. John SimHead of Pre -Product Research at JP Morgan.

“We do not expect the mortgage rates to be violated by 6 % in 2025 – it should be slightly reduced to only 6.7 % by the end of the year,” Sim added.

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