Mortgage Rates Rise Slightly but Remain Near Three-Month Low

Despite the Federal Reserve's aggressive rate increases, the recent drop in rates may make it an opportune time to consider buying a home.

30-year mortgage rates have modestly increased to 7.57%, but remain near a three-month low.
Despite the increase, rates on 15-year new purchase loans and jumbo 30-year loans also inched higher.
The Federal Reserve's aggressive rate increases over the last 18 months have indirectly impacted mortgage rates.
Despite high rates, the recent drop in mortgage rates may make it an opportune time to consider buying a home.
The Federal Reserve may keep rates paused for the third straight meeting, allowing rates to continue to drop.