simonkr / Getty Images Realtor.com predicts that mortgage rates could dip to 6.5% by the end of the year, while Fannie Mae expects them to fall to 6.7%. The good news is that either way, mortgage rates are expected to drop after an aggressive rate hike campaign from the Fed in order to cool down
Lower mortgage rates should ameliorate our housing situation, in theory. But where mortgage rates are at the moment, and where they’re expected to go in the next year or so, isn’t enough for that to happen, according to Capital Economics. Anxiety about a potential recession and sluggish economic data are leading to expectations about lowered
HARRISONBURG, Va. (WHSV) – Mortgage rates across the nation fell last week at the fastest pace in months with rates on 30-year mortgages dropping below 6.5% for the first time since May 2023. WHSV checked in with a local realtor to see the impact this could have on the local housing market in the Valley.
Average mortgage rates open the week lower, with 30-year fixed terms hovering around 6.50% as of Monday, August 12, 2024, as the market awaits key inflation and consumer spending data for July, starting with the release of the Producer Price Index tomorrow and followed by the Consumer Price Index on Wednesday. Fresh data within these
A couple signing paperwork with a realtor in a new house. Image source: Getty Images Elevated mortgage rates have made it difficult for buyers to move forward with home purchases. That’s because on top of those higher rates, home prices are also up on a national scale. But there’s a good chance that mortgages will
Reginald Mathalone / NurPhoto / Shutterstock.com As of the second quarter of 2024, the average sales price of homes in the U.S. was $501,700, according to Federal Reserve data. In comparison, the average sales price was $340,600 just five years ago. During certain times — such as in a recession — you may see dips
Mortgage rates plummeted earlier this week. They’ve cooled off now, but most rates are still ticking down — the main exception being the 30-year fixed rate, which is up three basis points since yesterday at 6.21%. But the 15-year fixed rate has dropped six basis points to 5.46%, and the 5/1 ARM rate has decreased
AUSTIN, Texas — After years of being at all-time highs, mortgage rates have dropped to their lowest in more than a year in anticipation of an interest rate cut by the Federal Reserve next month. This relief comes at a time when a majority of Texans believe there’s a housing affordability crisis. When it comes
The current average interest rate for a fixed-rate, 30-year conforming mortgage loan in the United States is 6.545%, according to the most recent data available from mortgage technology and data company Optimal Blue. Read on to see average rates for different types of mortgages and how the current rates compare with the last reported day
The average rate on a 30-year mortgage fell this week to its lowest level in more than a year, a welcome affordability boost for prospective home shoppers and homeowners looking to refinance their home loan to a lower rate. The rate fell to 6.47% from 6.73% last week, mortgage buyer Freddie Mac said Thursday. A year ago,