December 10, 2023

Rocky Daily News

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When could mortgage rates fall in 2024?

1 min read


Mortgage rates could fall in 2024 — but likely not for a bit. 

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If you’ve thought at all about buying a new home recently, you probably know that mortgage rates are on the high side right now. As of November 20, 2023, the average rate for a 30-year fixed-rate mortgage is 7.74%, while the average for a 15-year fixed-rate mortgage is 7.01%. This, especially when combined with high home prices, is enough to make many potential homebuyers shy away and either stay in their current homes or stick with the rental market for a bit longer. 

That said, some people think there could be relief coming next year – but maybe not until the weather starts to warm up…

2023-11-20 13:36:37

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