Mortgage Rates Hold Steady Under 7% Amid Economic Uncertainty

As of April 5, 2024, mortgage rates remain under 7%, with expectations of slight decreases by year's end, influenced by inflation trends and Federal Reserve policies.

Mortgage rates for popular 30-year and 15-year fixed mortgages remain under 7% as of April 5, 2024, with 30-year refinance rates seeing the largest increase.
The Federal Reserve maintains its benchmark interest rate at a 23-year high, with projections of rate cuts to 4.6% by the end of 2024.
Economic indicators suggest a decrease in inflation rates, but mortgage rates are not expected to drop significantly in the near term.
Freddie Mac and Fannie Mae predict mortgage rates to fall to the low 6% range by the end of 2024, influenced by inflation trends.
The National Association of Realtors settlement could lead to changes in home buying and selling, potentially saving consumers money.