Mortgage Rates Move Closer to ‘Sweet Spot’ for Buyers

April 14, 2023 Mortgage Financing By: Melissa Dittmann Tracey

Mortgage rates fell for the fifth consecutive week, continuing to help improve affordability for budget-conscious home shoppers this spring. The 30-year fixed-rate mortgage decreased to 6.27% this week, Freddie Mac reports. Rates could be headed below 6% in the coming months as inflation eases, says Nadia Evangelou, senior economist and director of real estate research at the National Association of REALTORS®.

Mortgage demand is picking up as rates drop, showing that buyers are sensitive to fluctuations in borrowing costs. Mortgage applications for home purchases rose 8% last week compared to the previous week, the Mortgage Bankers Association reported on Wednesday..READ MORE>>>https://www.nar.realtor/magazine/real-estate-news/mortgage-rates-move-closer-to-sweet-spot-for-buyers?utm_term=C33CB9DE-639C-46B1-8C6C-B00D627D7982&utm_campaign=3BFA9068-DFBC-477B-BC94-C168B9A999F1&nwsltr=navnar&utm_content=22C0973C-254A-4CA1-ADAE-6267BC0D24E4

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