Mortgages at Lowest Level in Over a Year, Hot From Phoenix August 2024
(Published on - 8/13/2024 3:39:53 PM)
Mortgage Rates Just Plunged to Their Lowest Levels in Over a Year
Mortgage rates sank last week, with the average rate for a 30-year fixed home loan going from 6.73% last week to 6.47% for the week ending Aug. 8, according to Freddie Mac. Sam Khater, Freddie Mac’s chief economist, said in a statement. “The decline in mortgag
e rates does increase prospective homebuyers’ purchasing power and should begin to pique their interest in making a move.”
This drop is significant enough to translate into "real savings," according to Realtor.com Chief Economist Danielle Hale in a recent analysis. Article (more)
