Source: Bank Rate —
The real estate market may be slowing down a bit, but it’s still sizzling, and receding mortgage rates may be enticing new buyers to enter the market again, or existing homeowners to stay put and refinance. Here’s what you need to know in mortgages and real estate this week.
1. Mortgage rates take another dip
Rates on a 30-year fixed mortgage slid this week, averaging just above 3 percent amid economic uncertainty. That’s good news for borrowers, who stand to benefit from a reprieve. Most experts still expect rates to climb again before the end of the year.