Published On Sep 18, 2024, 7:08 AM
The average 30-year mortgage rate in the U.S. has decreased to 6.15%, the lowest level in two years, following expectations of a Federal Reserve interest rate cut. This drop has led to an increase in mortgage applications for both refinancing and home purchases, which is seen as a response to the improved affordability of housing as home prices stabilize.
Positive
The fall in mortgage rates is likely to stimulate home buying and refinancing activity, benefitting the real estate market in the short term. This could lead to enhanced performance in related stocks in the real estate sector, particularly those involved in mortgage lending and home construction.
Oct 11, 2024, 12:01 PM
The former president often implies that deportations will bring down housing costs. Reality is more complicated.
Oct 10, 2024, 1:34 PM
The Consumer Price Index (CPI), the main measure of inflation, increased 0.2% in September, a similar increase consumers saw in August and July, the Bureau of Labor Statistics reported.
Oct 10, 2024, 6:50 AM
Recent falls in rates could come to "an abrupt halt" in the next few days, according to brokers