Source: Yahoo! Finance —
Mortgage rates continue to retreat. The average rate on 30-year mortgages ticked down to 6.42 percent this week from 6.43 percent the previous week, according to Bankrate’s national survey of large lenders.
“Mortgage rates declined for the third straight week, which is good news for potential homebuyers looking ahead to the spring homebuying season,” says Joel Kan, deputy chief economist at the Mortgage Bankers Association. “Homebuying activity remains tepid, but if rates continue to fall and home prices cool further, we expect to see potential buyers come back into the market. Many have been waiting for affordability challenges to subside.”
After a steep run-up for most of 2022, mortgage rates topped 7 percent in November. Though they’ve retreated from their autumn peak, rates remain well above their 2021 lows, and the continued run-up has roiled the housing market.
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When rates CLIMBED to 6.4% it was not called an “opportunity” – it was noted as pricing people out of the market.
Considering this an opportunity is nonsense.
Oh, Boo Hoo…. Just wait until you have to deal with 16% -19% interest! We did ~ back in the ‘80’s!! We survived ~ so will you. Just smile, take a deep breath, roll up your sleeves & get to work! Creativity trumps whining any day!????
Agreed. Buy at lower prices today, refinance tomorrow. It’s all relative…