Particle.news
Download on the App Store
10 ARTICLES
·
last yr.

Mortgage Rates Rise, Economic Factors and Fed Policies in Play

As of April 2, 2024, 15- and 30-year fixed mortgage rates have increased, with potential relief for homebuyers expected later in the year.

Image
Image
Image
Image

Overview

  • Mortgage rates for 15- and 30-year fixed loans have increased, with the 30-year rate at 7.125% and the 15-year rate at 6.125% as of April 2, 2024.
  • Rates fluctuate daily and are influenced by economic conditions, personal factors, and the Federal Reserve's policies.
  • Economists expect rates to ease down in 2024, potentially offering relief to homebuyers.
  • The Federal Reserve held its benchmark interest rate steady, signaling possible rate cuts later in the year.
  • A settlement in the real estate industry could change homebuying by allowing consumers to negotiate broker commissions.