Mortgage Rates Show Mixed Trends Amid Economic Uncertainty

While 30-year mortgage rates fall below 7%, rising insurance costs and market volatility challenge homebuyers.

The average rate for a 30-year fixed mortgage decreased to 6.88%, its lowest in two weeks.
Florida's housing market faces unique challenges with high insurance premiums and increased inventory not lowering prices.
Rates for 15-year mortgages also fell, while jumbo and adjustable-rate mortgages saw varied changes.
Economic factors such as Federal Reserve policies and inflation continue to influence mortgage rate fluctuations.
Despite increased inventory in some states, affordability remains a significant issue for many potential homebuyers.