Mortgage rates have been moving lower in recent weeks, even after the Federal Reserve’s decision to pause its rate-cutting cycle. But mortgage executives and housing economists don’t believe this trend will continue long enough to meaningful impact mortgage demand or home sales.

According to data at HousingWire’s Mortgage Rates Center, the average 30-year conforming rate was 7.01% on Tuesday. That’s 4 basis points (bps) lower than a week ago and 11 bps lower than three weeks ago. The 15-year conforming rate has tumbled even further, going from 7.35% at the start of February to 6.97% on Tuesday.

Emanuel Santa-Donato, details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com