Mortgage rates have improved for the second week, with the 30-year fixed rate averaging 6.19%, down from 6.23% last week and 6.69% a year ago. The 15-year fixed rate also decreased to 5.44%. A potential Federal Reserve rate cut could further lower mortgage rates, boosting buying power. In 2026, home prices may rise 2.2%, but declining rates and increased inventory could improve affordability despite ongoing challenges.
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