Posted 1/12/2024, 3:30:23 PM
Mortgage Rates Hold Steady Under 7% But Prices Still Climbing; Relief Expected in 2023
- Mortgage rates increased slightly to 6.66% for 30-year fixed but remain below 7%
- Home prices continue rising rapidly, up 4.8% year-over-year nationwide
- Mortgage rates expected to fall in 2023 but likely at a slower pace due to high inflation
- Freddie Mac simplifying paperwork for down payment assistance programs to aid first-time buyers
- Shopping around still recommended to find the best mortgage rates, with online marketplaces like Credible