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Mortgage rates are projected to decline, but will that entice buyers?

The slowdown in the Federal Reserve‘s short-term rate hikes, announced on Wednesday, was welcome news for the mortgage market and solidified expectations that the 30-year mortgage rates will drop throughout 2023.

While mortgage rates have been trending lower, rates are still higher than 12 months ago, but some experts anticipate that the downward pressure on rates will provide opportunities for buyers.

The Federal Reserve controls short-term rates, but long-term rates, including 30-year mortgage rates, are a function of market expectations for the path of the economy, Mike Fratantoni, senior vice president and chief economist details ⇒

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