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“Looking at the end of this year and into 2025, I foresee mortgage rates staying in the 6% range, likely bouncing between 6% and 7%,” shared Dan Richards, president of Flyhomes Mortgage. “A ...
Finally, there's good news for homebuyers and for homeowners who want to refinance their mortgages: The 30-year fixed mortgage rate now averages 6.73%, dropping significantly from its 20-year peak ...
Why mortgage rates are likely to drop The Federal Reserve raised its benchmark interest rate (the federal funds rate) several times in 2022 and 2023 in an effort to cool inflation.
After moving higher the past two weeks, mortgage rates fell this week, dropping to the their lowest level since May 2023. The 30-year fixed-rate mortgage averaged 6.60% in the week ending January ...
But it's the lowest average 30-year mortgage rate recorded since February 2023. And for context, roughly one year ago, the average 30-year mortgage rate was 7.12%.
There are drops for 30-year mortgage terms again today. Both purchase and refinance rates with a 30-year fixed term dropped to 7.21%. That is 15 basis points lower than this time last week for a ...
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