Current Mortgage Trends: Are Mortgage Rates Going Down?

Mortgage advisors expect house prices to continue to rise sharply this year. At the same time, experts expect the previously predicted drop in mortgage rates to fail to materialize. This was revealed during Centraal Beheer's annual Beterweters event for mortgage advisors.

Current Mortgage Trends: Are Mortgage Rates Going Down?

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Good news for home buyers: mortgage rates are dropping. Within the past week, mortgage rates dropped to their lowest level since October of last year. Right now, the average mortgage rate for a 30-year fixed conforming loan, which is anything under $806,500, is 6.67% – a drop from 6.73% last week. That slight drop has been enough to spur more demand for mortgages. Total mortgage applications rose 11.2% week to week, according to the Mortgage Ban…

Mortgage demand for new homes is down 6.9% in the past year

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