Thinking About 6%

This month, mortgage rates fell below the 7% mark for the first time in months.

  • Rates fell for the seventh consecutive week and hit the lowest level since early August when rates were 6.96%.

The decline in rates has ignited a surge in refinance and mortgage-buying activity, bringing a renewed sense of optimism to the housing market.

"Given inflation's deceleration and the Fed’s expectations that they will lower the target rate next year, we likely will see a gradual thawing of the housing market in the new year," said Freddie Mac.

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