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Mortgage Rates Dip To 6.3%, Are More Declines Coming?

  • 1:23 PM EDT

by UrbanTurf Staff

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Mortgage rates retreated to 6.3% this week, offering a continued reprieve for homebuyers who have been watching the market.

The 30-year fixed mortgage rate has dropped to its lowest point in recent weeks, marking a meaningful shift from where it stood just days ago. Freddie Mac's latest weekly survey placed the 30-year fixed rate at 6.3%, down from 6.37% the week prior. 

“Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season,” Sam Khater, Freddie Mac’s Chief Economist, said in a release. 

The Mortgage Bankers Association expects the 30-year rate to hover near 6.3% through 2026, while Fannie Mae is more optimistic, forecasting rates just under 6% by year-end. 

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_dip_to_63_are_more_declines_coming/24530.

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