"Modest Dip in Mortgage Rates Sparks Homebuyer Demand"
TL;DR Summary
Mortgage rates dipped slightly, with the average rate on a 30-year fixed mortgage dropping to 6.88% from 6.94% last week, leading to a boost in purchase applications. However, record-high home prices and persistently elevated rates are fueling an affordability crisis, causing many potential buyers and sellers to wait on the sidelines for rates to come down further before making a move.
Topics:business#affordability-crisis#finance-real-estate#home-prices#housing-market#mortgage-applications#mortgage-rates
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- Mortgage rates edge down. Home buyers are seizing the moment — while it lasts. MarketWatch
- Mortgage Rates Back Under 7% on Average Mortgage News Daily
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