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Still, even at a 6% mortgage rate and a $3,000 monthly allocation, buyers could afford a home worth $479,750. That’s a $32,000 leap in purchasing power from where we’re roughly at.
Indeed, while the 30-year average mortgage rate stands at 6.95%, to put this in context, it’s still high compared to the corresponding week in 2021-6.31%; the corresponding week in 2021-3.12% ...
Compared to the pandemic-era interest rates of 3% or less, rates under 7% are still high. But if you look at the historical average, it’s actually a fair rate. Compared to 1981’s interest ...
In the meantime, it might be a good idea to get a down payment together so you are ready to strike when the market opens up and the mortgage rates drop. More From GOBankingRates
The average rate for a 30-year mortgage loan rose to 6.69% from 6.60% a week prior. ... While rates are still hovering around mid-6% — significantly higher than the average in 2021 and 2022 ...
The average rate on the 30-year fixed mortgage declined to 7.29% from 7.44% the week prior. Mortgage rates fall again, dropping by a half-point in 4 weeks [Video] Skip to main content