Mortgage
Today, March 30, 2024, mortgage interest rates are…
– Mortgage rates have recently gone down, with 30-year mortgage rates averaging 6.37%
– Most major forecasters expect mortgage rates to decline in 2024, but there are no signs of sustained drop yet
– The Federal Reserve is waiting for more data on inflation before considering lowering the federal funds rate, which will affect mortgage rates
– Home prices are expected to increase in 2024 despite high mortgage rates
– House prices usually drop during a recession due to low demand and affordability issues
– Experts recommend spending no more than 28% of gross monthly income on housing expenses, with lower interest rates allowing for higher borrowing
– Mortgage calculator can help determine affordability and monthly payment options
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