Mortgage rates in the US have dropped to their lowest level in almost eight months, with the average 30-year fixed-rate mortgage falling to 6.6% as of January 18. Freddie Mac reported a 0.06 percentage point decrease to 6.6%. Fannie Mae revised its projections, expecting the rate to average 6.4% in Q1 2024, 6.2% in Q2 2024, 6.0% in Q3 2024, and 5.8% in Q4 2024. President Biden noted the decrease in rates and predicted further declines. The housing market is expected to benefit from the improved affordability, with NAR's Lawrence Yun anticipating higher sales and more inventory in the upcoming months.
Mortgage rates will dip below 6% this year amid a stronger housing-market rebound, Fannie Mae says https://t.co/3nmoNqTOyB
Mortgage rates for a 30-year fixed-rate home loan sank to an average of 6.60% this week. 30-year rates are at their lowest in nearly 8 months. https://t.co/I0lOMpYUVa
“The latest month’s sales look to be the bottom before inevitably turning higher in the new year,” said NAR's Lawrence Yun. “Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months.” #NAREHS
Drop in average 30y mortgage rate over past 12 weeks has reached -0.76% … largest rolling 12-week decline since early 2009 https://t.co/pHPQPvbx9g
Average 30-Year Mortgage Rate in the US… 1970s: 8.9% 1980s: 12.7% 1990s: 8.1% 2000s: 6.3% 2010s: 4.1% 2020s: 4.6% --- All-Time Low (Jan 2021): 2.65% 2023 Peak (Oct 2023): 7.79% Today's Rate: 6.60% https://t.co/ahZ3Z2Nnvh
In the week ending January 12, 2024, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.75% from 6.81%. The seasonally adjusted purchase Index increased by 9% from one week earlier, but remains 19% lower than the… https://t.co/U5WxWfALrg
The average 30-year mortgage rate is expected to end the year below 6%, according to analysts at Fannie Mae. https://t.co/4MajcAFKz2
Biden: “Mortgage rates are falling and will fall further!” When Biden took office, the average 30-year fixed mortgage rate was 2.7%. Today it remains around 7%. https://t.co/UIOP5GNvNw
Mortgage rates just dropped to their lowest level since May “This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability,” per Sam Khater, Freddie Mac’s chief economist
Good news! Mortgage rates drop to their lowest level since last MAY (but buyers still face paying an extra $700 a month than if they bought two years ago!) https://t.co/n4pKBCb9X7 https://t.co/6BbXY4KqOU
Mortgage rates in the US fell after two weeks of increases, dropping to the lowest level in almost eight months. https://t.co/LiOc9syglE via @economics https://t.co/2hrIl02TNR
BIG REVISION Fannie Mae expects the 30-year fixed mortgage rate to average... 6.4% in Q1 2024 (previously 7.0%) 6.2% in Q2 2024 (p: 6.8%) 6.0% in Q3 2024 (p: 6.6%) 5.8% in Q4 2024 (p: 6.5%) 5.7% in Q1 2025 (p: 6.3%) 5.6% in Q2 2025 (p: 6.2%) 5.6% in Q3 2025 (p:… https://t.co/4Ei7JNsV77
Mortgage rate dips .06 percentage points to 6.6% https://t.co/FWRzYoFU1d
Mortgage rates drop to 7-month low https://t.co/EsjBkJ6JXe by @RebeccaChenP
Jessica Lautz, NAR Deputy Chief Economist and Vice President of Research, reacts to mortgage rates falling to their lowest point in eight months. https://t.co/ikFgRPDMEE
Instant Reaction: Mortgage Rates, January 18, 2024. "Home buyers should be pleased with the continuing drop in mortgage interest rates this week. If they can find a home, they can lock in a rate of 6.60% this week, down from 6.66% last week." https://t.co/GsM6EtM3KO https://t.co/TvGOPWPtax
The average 30-year fixed mortgage rate comes in today at 6.89% Spread: 275 bps https://t.co/KDng9HR0uu
Mortgage rates in the US fell after two weeks of increases, dropping to the lowest level in almost eight months https://t.co/DsNlMa10ka
Mortgage rates fall to an eight-month low https://t.co/LKliIOILab
Mortgage rates drop to seven-month low https://t.co/2ydXMa85Gt by @RebeccaChenP
🔴 FREDDIE MAC: US 30-YR FIXED RATE MORTGAGES 6.60% JANUARY 18TH WEEK VS 6.66% PRIOR WEEK.
🔸 Freddie Mac: 30-Year Fixed-Rate Mortgage Averaged 6.6% as of Jan. 18 🔸 Freddie Mac: Mortgage Rates Reach Lowest Level Since May 2023