Snapshot of mortgage rate trends .
30-Year Mortgage Rates Hit a New 19-Month Low - Investopedia
Mortgage rates have dropped to a 19-month low, with 30-year fixed rates now averaging 6.03% and 15-year loans at 5.07%. This decline follows the recent reductions in inflation and expectations of further Federal Reserve rate cuts. While rates have fallen since the historic highs of 2023, they are still above the pandemic lows, and homebuyers remain cautious due to high home prices.
September 2024 Mortgage Interest Rates Forecast - NerdWallet
Mortgage rates have been falling steadily for the last few months, reaching 6.25% in August. As inflation cools and the labor market slows down, the Federal Reserve is expected to cut rates further, likely resulting in continued decreases in mortgage rates through September. However, despite these reductions, home affordability remains a challenge due to high property prices.
Housing Inventory Falls as Mortgage Rates Drop - HousingWire
Mortgage rates have started to decline, causing a slight reduction in housing inventory in the Midwest. Rates for 30-year mortgages dropped to around 6.03% as of early September 2024. Despite this, the high cost of homes and rising interest rates earlier in the year have kept many potential buyers out of the market, reducing the overall number of new listings.
Mortgage Rate Predictions for September 2024 - Norada Real Estate
Predictions suggest that mortgage rates could fall slightly after the Federal Reserve’s anticipated rate cut during the September 17-18 meeting. Rates, which currently average 6.53% for 30-year loans, may drop by 0.25%, offering some relief to buyers. However, rates are expected to remain above 6% through the end of the year, reflecting a steady but slow decline.
Mortgage Rates in September 2024: What to Expect - GreenSprout
As of September 2024, mortgage rates have slightly increased, with 30-year fixed rates hovering around 7.2%. Analysts expect these rates to stabilize or decline if the Federal Reserve cuts rates in mid-September. However, with high inflation and a slow housing market, it is unlikely that rates will drop significantly in the near term