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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% by the end of 2024 from the current federal funds rate range of 5.25%-5.5%.

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Mortgage rates fell 18 bps, but that’s of little solace to homebuyers

Housing Wire

Mortgage rates dropped to 6.78% this week, the biggest weekly decline since mid-March, as investors digested a raft of mixed incoming economic data. Homebuilder sentiment rose for the seventh consecutive month and new construction activity slightly pulled back as the cost of materials picked up.

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Mortgage rates inch closer to 7%

Housing Wire

Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 27, up from last week ’s 6.78%. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

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MBA forecast for 2021: Prepare for rising mortgage interest rates

Housing Wire

Fratantoni brought up this point, saying that short-term rates will stay at 0% at least until 2022 and said that we will see a very cautious Fed when it comes to raising rates from here. However, he forecasted that rates will steadily rise over the next year. Housing inventory and prices.

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What Will the Real Estate Market Bring in 2024? Market Corrections or Rising Property Prices?

Realty Biz

The 30-year fixed-rate mortgage rate was at 6.6 Still, the market and prices can cool off, giving buyers and investors more breathing room. On the other hand, a buyer's market advantages house hunters and investors because the demand is lower than the supply. This average increased by 5.1 Not necessarily.

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Housing Market Crash: Wells Fargo’s 1980s Recession Warning

Marco Santarelli

The Looming Threat of a Housing Market Crash Fears of a housing market crash are looming large, casting a shadow of uncertainty as mortgage interest rates hover near 8%. As concerns grow, investors are advised to closely monitor the housing market's unpredictable fluctuations. economy and the real estate market.

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What to Expect from Real Estate During Inflation

Realty Biz

However, inflation has benefits for real estate investors whether it is your primary residence or investment properties. Specific to real estate, inflation is going to drive both higher mortgage rates and higher property values. And it probably will be once the higher interest rates kick in.