Source: Fox Business —
Mortgage interest rates fell for the first time in weeks in early November, hitting 3.09% annual percentage rate (APR), according to the latest Primary Mortgage Market Survey from Freddie Mac. But despite this drop, experts said rates will soon be on the rise once again.
“While mortgage rates fell after several weeks on the rise, we expect future upticks due to stronger economic data and as the Federal Reserve pulls back on its stimulus,” Freddie Mac Chief Economist Sam Khater said. “That said, the housing market remains favorable for consumers, as rates remain below pre-pandemic levels and continue to support sustainable purchase and refinance opportunities.”
If you are interested in getting today’s low interest rates, you could consider refinancing your mortgage now. Visit Credible to find your personalized rate without affecting your credit score and see how much you could save on your mortgage payment.