Posted 12/4/2023, 11:46:11 AM
Mortgage Rates Dip but Remain High, Challenging Homebuyers
- Mortgage rates have fallen recently but are still higher than a year ago, making home buying difficult
- 30-year fixed mortgage rates averaged 7.48% this week, down 0.33% from last week
- 15-year fixed rates dropped to 6.71%, a 0.34% decrease week-over-week
- Experts predict mortgage rates could return to 6% by mid-2024 as inflation improves
- Adjustable-rate mortgages are gaining popularity, but fixed rates offer more long-term stability