Reported 1 day ago
Mortgage rates have increased after the Federal Reserve's recent cut of benchmark interest rates, with the average 30-year fixed rate now at 6.35%, up from 6.13%. This rise comes despite prior expectations of a downward trend driven by anticipated cuts. Analysts suggest that while refinancing demand has surged, significant changes are necessary to invigorate the housing market, which has struggled with high prices and rates over 6%.
Source: YAHOO