Mortgage Rates Drop for Third Week Straight as Signs Point to Easing Inflation
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Mortgage rates fell for the third straight week, dropping to 7.44% for 30-year fixed and 6.76% for 15-year fixed.
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The drops come as early data suggests inflation may be slowing.
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Rates are still higher than a year ago, when 30-year fixed averaged 3.22%.
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One economist says there's room for rates to fall further as the gap between 10-year Treasury yield and mortgage rates narrows.
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The NAR expects rates to drop below 7% by spring but stay above 6%.