Published On Dec 5, 2024, 12:22 PM
Mortgage rates have fallen for the second consecutive week, with the average 30-year fixed-rate mortgage now at 6.69%, the lowest since October. This decline has led to an increase in purchase applications, indicating potential demand in the housing market. Most mortgage holders still have lower rates, adding to the hesitance among buyers and sellers waiting to see if rates will drop further.
Positive
The continued decline in mortgage rates could lead to increased activity in the housing market, as potential buyers take advantage of lower borrowing costs. This may benefit companies in the real estate and mortgage sectors.
Positive
As mortgage rates are declining, the affordability for new homebuyers may improve, which can uplift homebuilder stocks as demand potentially rises.
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