If you are looking for a house – maybe hurry to get your loan.
Send the news: Mortgage rates are still high, but 30-year rates have just fallen the most since March 2020 and are now below 5%.
- It was as high as 5.81% on June 23.
How are you: Markets got a little stubborn — assuming the days of steep Federal Reserve rate hikes were fading, as Neil Irwin of TUSEN wrote.
- That drove the treasury down – and mortgages followed.
But, but, but: The delay may not last long.
- Mortgage rates will continue to fluctuate for a while, said Mike Fratantoni, chief economist at the Mortgage Bankers Association. “I think we will remain in this precarious state until we get a clear downward move on inflation.”