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Freddiemac

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"Mortgage Rate Fluctuations Continue as 2024 Trends Emerge"

Originally Published 2 years ago — by Fox Business

Freddie Mac reports that while mortgage rates have held steady at the start of 2024, with the 30-year fixed-rate mortgage averaging 6.62%, they are expected to decline as the year progresses due to anticipated Federal Reserve rate cuts and easing inflation. The Fed's potential rate reductions could see the federal funds rate drop to 4.6%, influencing mortgage rates to settle between 5% and 6%. Despite the stable rates, homebuyers are facing challenges with low inventory and high home prices, and many are waiting for rates to drop further before entering the market. Homebuyers are advised to shop around for the best rates, and tools like online marketplaces can assist in comparing rates and getting preapproved with multiple lenders.

business finance federalreserve finance freddiemac housingmarket interestrates mortgagerates

"Mortgage Rates Fluctuate: Recent Rise Follows Period of Stability and Predictions of Sustained Highs"

Originally Published 2 years ago — by Bloomberg

U.S. mortgage rates have increased for the first time since late October 2023, with the average rate for a 30-year fixed loan rising slightly to 6.62% from 6.61% the previous week, according to Freddie Mac. This marks the end of a 10-week streak of declining rates from near two-decade highs. Despite this uptick, an economist has suggested that mortgage rates are likely to decline over the course of the year.

business business-and-finance business-and-finance economy freddiemac housingmarket interestrates mortgagerates