yeah but now people are losing their jobs - 15000 at Intel alone. that sort of news paralyzes people. Fed appears to be behind thw curve - so i expect worries about economy to grab headlines for a while.
On Friday, August 02, 2024, the national average 30-year fixed mortgage APR is 6.82%. The average 15-year fixed mortgage APR is 6.29%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
According to historical data, the average 30-year fixed mortgage rate on August 2nd, 2020 was around 3.07%. This rate was reported by Freddie Mac, a leading mortgage market data provider.
Voters, what changed?
The Fed will lower interest rates before the election, then jack them back up in January when Bidenflation takes off again.
What is declining faster, rates or the stock market.
6.5%? Come on. I’m paying 3.62 for 3 and a half more years. Not impressed.
Question: Should I continue to pay that 3% for the next 3 years or pay it off and avoid the interest? I’d have to sell my other one and I’m 66. No need to build a bigger empire.
It’s probably an attempt to give Harris and Biden a talking point leading up to the election: “In the past three months, mortgage interest rates have dropped .5%, a record decline!!!”.
If Harris gets elected, the spigot will remain open. If Trump gets elected, the spigot will be shut tight, and Trumponomics will be blamed for the ensuing recession and stock market crash.
Mortgage rates ARE NOT DOWN.
Just checked.......
Democrat election year!