Mortgage rates fall below 5% for the first time since April

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Data: Freddie Mac; Graphics: TUSEN Visuals

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.
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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.”

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