Posted 3/7/2024, 7:38:25 PM
Mortgage Rates Dip Below 7% As Inflation Cools, Sparking Uptick In Homebuyer Interest
- Mortgage rates retreated below 7% this week, providing some relief for homebuyers
- The dip is tied to cooling inflation data and Fed projections of potential 2024 rate cuts
- Mortgage applications jumped nearly 10% week-over-week in reaction to lower rates
- Home listings increased 14.8% year-over-year in February, easing inventory constraints
- Consumer home buying sentiments improved slightly but uncertainty persists around future rate moves