Reported about 2 months ago
Recent trends show a decline in mortgage rates over the past year, although they ticked up this week. Experts, such as Melissa Cohn from William Raveis Mortgage, suggest that rates need to fall to around 5.5% to significantly boost buyer interest. Additionally, proposals to assist first-time homebuyers with grants for down payments and closing costs are seen as positive steps to rejuvenate the housing market.
Source: YAHOO