The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 25, 2024, 01:34:44 pm
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Mortgage rates reach new high for 2024
Brianna Crane
U.S. 30-year fixed mortgage rates
Daily; Jan. 2, 2019, to April 24, 2024
Mortgage rates touched 7.5% in April, the highest they've been since last fall, per Mortgage News Daily data.
Why it matters: Our frozen housing market may not unthaw this spring.
The big picture: High mortgage rates are keeping homeowners locked in, and prospective homebuyers shut out.
Experts were optimistic late last year that mortgage rates would drop in early 2024 and lure sellers and buyers off of the sidelines in time for spring.
Reality check: Mortgage applications have fallen since last week, and home sales have remained relatively stagnant.
The bottomline: Relief isn't coming any time soon.
https://www.axios.com/2024/04/24/mortgage-rates-high-april-2024