Homebuyers are in a bittersweet market as mortgage rates drop below 7% but prices remain high
The average rate on a 30-year loan declined to 6.99% this week, according to Freddie Mac./ The average rate on a 30-year fixed mortgage fell to 6.99% from 7.03% a week prior, Rate drops, even marginal ones, are generally welcomed by homebuyers sensitive to rates, yet buying activity has stayed persistently low. Although the and increasing choices for buyers, the pressure from high rates and high home prices is still squeezing affordability. "We know the reason [for low demand]: record-high home prices hitting affordability, and also ...
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