According to CoinMeta, 72% of homebuyers have paused their search for a property while waiting for lower mortgage rates, and 41% of them regret doing so. A survey commissioned by Neighbors Bank found that among 1,000 potential buyers, the majority were unable to accurately determine the current interest rates, with only 35% being able to correctly estimate the average rate for a 30-year mortgage. The survey also indicated that homebuyers could face waiting periods of up to 14 months. Data from Freddie Mac shows that the fixed rate for a 30-year mortgage was 2.65% in January 2021, which had risen to 7.79% by October 2023. Predictions from Fannie Mae suggest that the fixed rate for a 30-year mortgage will remain between 6% and 6.5% in the coming years.