Charting Mortgage Rates: Tracking Historical and Present Rate Patterns
Posted by Tanja Hamm on
A look at mortgage rates over time
In recent years, homebuyers have encountered a challenging scenario, facing significant increases in both mortgage rates and home prices. This combination has created a "double whammy," constraining the affordability for many prospective homeowners. This situation naturally prompts the question: Will mortgage rates increase or decrease? It's a question that has left many of us eagerly anticipating the answer.
Currently, with mortgage rates hovering just below 7%, there hasn't been sufficient movement to motivate either potential buyers or existing homeowners to explore refinancing options. However, a pivotal moment appears on the horizon, with prevailing expert opinions suggesting that the Federal Reserve…
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