Reported about 1 year ago
The average rate for a 30-year fixed mortgage decreased to 6.87% from 6.95% the previous week, according to Freddie Mac. This drop in rates, along with improving housing supply, easing inventory crunch, moderating home price growth, and cooling inflation, is seen as favorable for the housing market. Despite some challenges, such as high home prices and inventory levels still lower than pre-pandemic times, the market is showing positive signs with consecutive rate drops being a positive step for buyers and sellers.
Source: YAHOO