It has been an eventful year in home loans. Mortgage interest rates have been a roller coaster. Housing prices are all over the map. There have been changes that may affect the costs you pay at closing. Homes sat on the market in some previously “hot” areas and sold as fast as they were listed in some areas you wouldn’t expect.

Changes in the negotiation and advertisement of real estate commissions took effect in August of this year. Listing agents can no longer require or advertise commission offers in the MLS. (They can still advertise on their brokerage page, or through phone and electronic communications.) The theory is that this would result in bidding wars that would result in lower real estate commission fees overall. In practice, where it was given that the seller would pay the fees split between the buyer’s and listing agents; now buyers must negotiate. You could find yourself on the hook for these fees at closing. Buyer beware.

Looking forward to 2025, industry experts forecast an increase in purchase originations of 13 percent. This is good news if you are looking to sell your home. Interest rates are predicted to coast gradually downward throughout the year, and that is good news for buyers.