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Fast-forward to October 2023, and the 30-year mortgage rate broke through 8 percent — an average not seen since 2000. For most of 2024, mortgage rates have lingered in the 6s and 7s.
The cost to buy a home in the United States continues to push higher due to the combination of historically high home prices and rising mortgage rates. One result is that lending standards are...
By the week ending Oct. 26, 2023, rates had climbed to 7.79%, the highest rate since September 2000. ... Several economic factors affect rates. Federal interest rates and housing supply and demand ...
For instance, in October 2023, home values held steady even as mortgage rates soared to 8 percent, their highest level in more than 23 years. ... When interest rates do come down, it’ll be ...
30-year fixed-rate mortgage: 5.75%. Change: -1.15 percentage point. Highest since 2009. Mortgage rates ended 2023 with a cooldown almost as fast as the surge.
After extended periods of record-high mortgage rates, potential buyers might benefit from a slight dip in rates. Mortgage rates dropped from over 8% in mid-October to 7.4% in mid-November ...
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