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While rates have come down, as of March 21, the average 30-year mortgage rate was at 6.87% — much higher than a couple of years ago. ... election — as in 1980 — to much lower mortgage rates ...
In fact, Fannie Mae expects average 30-year mortgage rates of 5.7% by the end of 2025, which could certainly make it more affordable to buy or refinance a home.
In the week ending Dec. 26, the 30-year fixed-rate mortgage averaged 6.85%, mortgage guarantor Freddie Mac said Thursday. The popular loan product averaged 6.72% throughout the year, compared to 6 ...
Get insights into the 2024 mortgage rate forecast. Learn when mortgage rates might go down and plan your financing strategy accordingly.
That's because mortgage rates are based on several factors beyond the Fed's benchmark rate, including the strength of the U.S. economy and changes in the yield for the U.S. 10-year Treasury bond.
“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 ...
In anticipation of the Fed’s first and only interest rate cut so far, mortgage rates plummeted. That is no longer the case. They’re back up: the latest daily reading for the average 30-year ...
Thomas’s research found only two election cycles — 2000 and 2008 — that saw greater-than-expected drops in home sales, which can likely be explained by recessions.