Mortgage Rates Slightly Down This Week But Expected to Fall Further in Coming Years
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National averages for mortgage rates are ending the week slightly down for many loan types today, though they continue to move in different directions daily.
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Inflation crept up slightly in December, which makes it unlikely that the Fed will lower federal rate funds anytime soon.
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Experts like the National Association of Realtors expect mortgage rates to fall slowly throughout 2024 and land in the low 6% range by year's end.
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As of today, January 12, 2024, 30-year fixed mortgage rates are slightly down, as are 30-year fixed refinance rates.
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Maintaining a good credit score, having a stable income, shopping around, and researching different loan options can help get the best mortgage rate.