Mortgage Rates Experience Mixed Movements Amid Economic Strength
As the spring home buying season approaches, mortgage rates show varied trends with some increases and decreases, reflecting the economy's resilience and the Federal Reserve's steady interest rates.
- 30-year new purchase mortgage rates climbed 5 basis points to 7.20%, while some refinancing rates also moved higher.
- Freddie Mac reports a slight increase in the average 30-year fixed-rate mortgage to 6.64%, indicating stability in the mid-six range.
- Despite the Federal Reserve holding interest rates steady, mortgage rates' future movements remain uncertain, with potential cuts anticipated later in the year.
- Homebuyers are slowly returning to the market, encouraged by a more than a percentage-point drop in mortgage rates since late October.
- Economic indicators such as strong employment reports and GDP growth suggest rates may remain stable through the spring, with cuts not expected until summer.
Newsweek 
Investopedia 
Fox Business 
NJ.com 
Business Insider 
Orange County Register 
Associated Press 
