Reported 8 months ago
Mortgage rates in the US have dropped for the third consecutive week, reaching a two-month low of 6.87%. The average for a 30-year fixed loan decreased from 6.95% the previous week, according to Freddie Mac. Despite the decrease in rates, many potential homebuyers are still hesitant, and sellers are reluctant to list their properties due to the fear of losing their low-rate mortgages from the pandemic era. Experts are anticipating rate cuts to stimulate the housing market, with Fed policymakers projecting only one rate cut this year.
Source: YAHOO