Reported 7 months ago
Freddie Mac reports a drop in mortgage rates this week, with the average rate on a 30-year fixed-rate mortgage falling to 6.95%. Despite still being above the 7% mark, experts suggest that further declines are needed to boost homebuyer sentiment. The Federal Reserve's potential rate cuts and Bank of America's forecast of six rate cuts in 2025 and 2026 offer hope for increased affordability in the housing market.
Source: YAHOO