Once the outcome of the presidential election was known, 30-year mortgage interest rates slowly decreased through the end of 2024 from the high 6% range, into the mid-to-low 6% range. Forecasters predicted that they’ll continue to soften, sinking below 5%, just in time for the spring 2025 homebuying season.

• Wells Fargo agrees that rates will dip below 6% in Q2 2025.
• Fannie Mae predicts that mortgage rates will average 5.7% in 2025.
• The Mortgage Bankers Association says rates between 2024 and 2025 will drift between 6.3% by Q4 2024 and 5.9% by Q3 2025.
• The National Association of Home Builders predicts that rates will average 5.94% in 2025, with "sustained, sub-6% mortgage interest rates" beginning in Q2 2025.

Federal Reserve chair Jerome Powell says that forecasting interest rates is highly uncertain. While there are trends that suggest that the interest rate forecast for spring 2025 will be lower, it all depends on developing economic conditions. For that reason, don’t try to time the market. You can always refinance if interest rates drop.

Mortgage interest rates are slowly drifting lower, giving a much-needed boost to both homebuyers and home sellers. Yet, home prices continue to rise, even as more sellers put their homes on the market. Why? The U.S. is still several million homes short of a balanced market. So, do you want to wait for cheaper rates or go ahead a buy a home before home prices rise further?

To time the housing market perfectly, you need to:

1. Find the right home.
2. Buy at the right price.
3. Obtain the right mortgage interest rate.

You may get lucky and get one out of three or even two out of three, but it’s nearly impossible to get all three at the same time unless the market is in a recession or depression. Only then will there be plenty of homes to choose from, low prices, and low mortgage interest rates.

Start with finding the right home—one that best meets your household’s needs for space and features, your finances, and a reasonable interest rate.

After your home has been closed up for the winter, it’s time to deep clean and make the home fresh in time for spring—the time of the year for renewal and rebirth. Deep cleaning is a great way to embrace the lighter mood of spring, give you a sense of accomplishment, and improve your health with exercise and a cleaner environment.

Spring cleaning is about washing/cleaning the areas you don’t do every week:

• Windows and sills
• Window treatments
• Carpets
• Light fixtures
• Baseboards
• Fireplaces

Spring cleaning also includes:

• Moving furniture to clean underneath and to use special vacuum attachments to clean upholstered furniture and drapes.
• Decluttering, including purging closets of unwanted clothing, shoes and accessories.
• Power-washing the exterior of the home.
• Polishing floors, touching up nicks in wood cabinets with stain fillers.
• Getting your AC professionally checked.
• Testing fire and carbon monoxide detectors and replacing batteries where needed.
• Flipping mattresses, cleaning or replacing mattress pads and cleaning bedding and pillows.
• Cleaning gutters of debris to prepare for spring showers.