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We’re not likely to see rates in the 5% range anytime soon.” ... good idea to get a down payment together so you are ready to strike when the market opens up and the mortgage rates drop ...
Mortgage rates remain stubbornly high. In late September, it was looking like mortgage rates would drop below 6% before the end of the year. But then that downward streak ended, leaving would-be ...
The average rate on a 30-year fixed-rate mortgage is now at its lowest level since early February, with data from Freddie Mac last week showing rates were down to 6.73% from a peak above 7.2% ...
The average 30-year mortgage rate fell to 6.69%, from 6.81% a week earlier, according to Freddie Mac data. Fifteen-year mortgage rates dropped to an average of 5.96% from 6.1% last week.
“That will represent a marginal improvement to affordability, but mortgage rates are not very likely to come down to the 3% rates that were averaged as recently as 2021.”
A separate housing forecast by Redfin also predicts rates to hover around 7% in the first quarter before slowly dropping to 6.6% by the end of 2024, with the Fed cutting its key rate two or three ...
“The 10-year Treasury yield that serves as a baseline for fixed mortgage rates will have a bouncy journey lower, moving back above 4 percent early in 2024 but trending lower as inflation cools ...
The average rate on the 15-year fixed mortgage rose to 6.10% from 6.02% last week. One year ago, the rate on the 15-year fixed note averaged 6.56%. Original article source: Mortgage demand jumps ...