We're Welcoming Spring Homebuying Season with Falling Mortgage Rates!
Buying a home in the US has been a rollercoaster ride lately, with high prices and limited options making it tough for potential buyers to catch a break. But there's a glimmer of hope on the horizon: mortgage rates are on the decline!
Mortgage rates have fallen for four weeks straight, reaching a 7-week low of 6.4%.
This comes after the financial turbulence caused by several banks' collapse, which helped push Treasury yields down — a critical factor in determining mortgage rates.
While borrowing costs are still high and inventory is low, this dip in mortgage rates is welcomed news for Spring homebuyers.