Posted 1/9/2024, 1:17:07 PM
Mortgage Rates Rise Slightly But Expected to Fall in Coming Year
- Mortgage rates continuing to inch up this week but are still lower than much of 2023
- Rates expected to steady in 2024 and fall slowly, landing around 6% by end of year
- As of January 9, 2024, 30-year fixed mortgage rates are 7.06%, up from 6.62% on January 4
- 15-year fixed rates now 6.42%, 30-year refinance rates at 7.21%
- Multiple factors influence mortgage rates, including inflation, economic conditions, Fed policies, and individual borrower qualifications