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This is all due to the fact that the federal interest rate is not tied to mortgage rates, with different factors influencing if they go up or down. ... to see rates in the 5% range anytime soon ...
Why mortgage rates are likely to drop The Federal Reserve raised its benchmark interest rate (the federal funds rate) several times in 2022 and 2023 in an effort to cool inflation.
A drop in mortgage rates is expected. ... anytime soon. The reason rates were so low in 2020 and 2021 is that the U.S. economy was plunged into a deep economic crisis as the COVID-19 pandemic took ...
The average rate on a 30-year fixed-rate mortgage is now at its lowest level since early February, with data from Freddie Mac last week showing rates were down to 6.73% from a peak above 7.2% ...
Mortgage rates aren't always reactive to rate cuts Mortgage rates certainly fell after the Fed announced its 50-basis-point rate cut in September, but it wasn't necessarily because there was a ...
Not only have home prices been elevated, but mortgage rates have been relatively high -- especially compared to the record-low rates borrowers enjoyed in 2020 and 2021.
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