![]() It is also beneficial for homeowners who have skipped priority refinancing and monthly cash flow prospects. ![]() The mix of low, affordable prices and a better economy is ideal for home buyers. "There is a recovery of consumer income and expenditure, resulting in economic growth acceleration. Sam Khater, the chief economist of Freddie Mac, said in a tweet, "The mortgage rates stayed below 3 % for three weeks in a row." Freddie Mac said his rate is 0.8 of a point on average. The difference with the amount of Freddie Mac is because the percentage of Bankrate is 0.32% of points and the initial payments, although that figure is not included in Freddie's figure. The average 30-year rate also plummeted to 3.16 percent in a separate banking rate survey. The 30-year fixed-rate average fell for the fourth time in the past five weeks and now stands at 2.96 percent." "Mortgage rates remain under 3 percent for the third week in a row. The end of this year is also expected to be higher prices, but historical expectations are projected to stay strong. This pattern changed in 2021, with the economy's turnaround, but the prices began to decline again in April. The US economy plummeted after the pandemic of coronavirus in 2020, with mortgage prices plummeting. ![]() According to Freddie Mac, this week's fixed-year mortgage rate dropped by two basis points to 2.96%.
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