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- Mortgage rates will stay high through 2024, dipping to just under 7% at year-end, Goldman Sachs forecasts.
- This will keep homeowners off the market, and the housing turnover rate will fall to its lowest since the 1990s.
- Higher rates will also mean more moderate price growth, with a 1.3% year-on-year rise expected in 2024.
Hopes for a 2024 housing market rebound should be kept in check, as sustained multi-decade highs in mortgage rates will push existing home sales to lows not seen since the early 1990s, Goldman Sachs said in a report on Monday.