Posted 4/13/2024, 10:00:07 AM
Mortgage Rates Reach 10-Year High But Expected to Ease in Coming Years
- Average 30-year mortgage rates inching towards 7%, highest level in over 10 years
- Rates expected to gradually decrease through 2024, but not likely to plummet significantly
- Lower rates later in the year could save buyers roughly half a percentage point
- 30-year fixed rates offer predictable payments but higher interest costs over loan term
- Not the best time to buy with high rates and prices, but better than many people think