Economists agree rates have peaked. But will they come down?

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Economists who put together two of the real estate industry’s most closely watched forecasts agree that mortgage rates have probably peaked, but are sharply divided on how quickly they’ll come down over the next two years.

Economists at Fannie Mae are taking Federal Reserve policymakers at their word that they intend to pursue a “higher for longer” rate strategy, which would keep mortgage rates above 7 percent next year.

But forecasters at the Mortgage Bankers Association expect mortgage rates in the mid-6 percent range by the end of next year and in the mid-5s by the end of 2025.