Mortgage
Today, on March 28, 2024, mortgage interest rates are fluctuating.
– Mortgage rates have been inching down and are expected to fall further later this year, but volatility may occur depending on economic data.
– Average 30-year mortgage rates have remained below 6.5% after spiking up near 6.7%.
– Federal Reserve officials expect inflation to continue slowing, enabling them to start lowering the federal funds rate and in turn, lowering mortgage rates permanently.
– Investors are pricing in a potential cut at the Fed’s June meeting, but mortgage rates may be somewhat unpredictable until further data shows moderating price growth.
– Mortgage rates have moderated in recent months and are expected to drop further this year as inflation slows.
– Homeowners can consider leveraging their home’s value with a home equity line of credit (HELOC) while waiting for mortgage rates to ease.
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