Reported 5 months ago
Freddie Mac reports that national average 30-year and 15-year fixed mortgage rates have decreased for the third consecutive week, with the 30-year rate dropping below 7% for the first time since mid-April. While rates may continue to decrease throughout 2024, the article suggests that potential homebuyers could save by waiting until the end of the year. However, if ready to buy now and able to afford the current rates, it may be advantageous to purchase sooner. The article outlines the pros and cons of 30-year fixed, 15-year fixed, and adjustable-rate mortgages, ultimately suggesting that while it may not be the best time to buy due to relatively high rates and firm prices, it could still be a viable option depending on individual circumstances.
Source: YAHOO