Reported 1 day ago
Mortgage rates have risen to 6.85% as 2024 comes to a close, closely mirroring the rates at the year's beginning. This increase follows projections of fewer interest rate cuts in the coming year, as the Federal Reserve indicated it may only reduce rates twice in 2025, contrary to earlier expectations of four cuts. Although there’s a slight uptick in home sales, a significant housing supply shortage remains a concern.
Source: YAHOO