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The average rate for a 30-year fixed-rate mortgage was 6.95% as of July 3, according to Freddie Mac. That’s well down from a high of 7.79% in October 2023 and below the 52-week average.
“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.”
Mortgage rates reached their lowest level in a month the week of December 5, according to Freddie Mac. ... 20 Best Cities Where You Can Buy a House for Under $100K. ... even if rates drop, and not ...
Homeowners are trimming prices to revive buyer interest, which has dropped off amid record price highs and elevated mortgage rates. The median home price fell 1.3% year-over-year, hitting $429,990.
But in 2022, mortgage rates started climbing. And for much of 2023 and 2024, the average 30-year mortgage was above 7%. That pushed many home buyers out of the market.
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 ...
Pleasing most would-be homebuyers, mortgage rates finally dropped earlier this week. The 30-year fixed mortgage rate dropped by 25 basis points to 7.61% from 7.86%, the largest single-week decline...
Mortgage rates have risen due to new economic data and pre-election fears, and are in for another volatile few weeks. Mortgage rates below 6%? Not anytime soon.