Mortgage Rates Plummet to 7-Month Low, Unlocking Housing Market Potential
TL;DR Summary
A significant drop in 30-year mortgage rates has led to a 7-month low, with the average decreasing to 7.02%. Rates for various loan types, including new purchase and refinance, have also dropped. The decline in rates is attributed to factors such as the bond market, the Federal Reserve's monetary policy, and competition among lenders. It is advised to shop around for the best mortgage option and regularly compare rates.
- Massive 2-Day Drop Sinks 30-Year Mortgage Rates to 7-Month Low Investopedia
- Will mortgage rates ever fall to 3% again? CBS News
- Housing market: sinking mortgage rates unlock more inventory and sales Business Insider
- Mortgage rates could drop below 5%, if inflation keeps falling as fast as it has been, Mortgage News Daily exec says Fortune
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