Recent Drop in Mortgage Rates
This week saw the quickest drop in mortgage rates since 1981, a 41-year timespan, falling nearly half a percentage point. The dip was likely caused by the United States government’s recent attempts to combat inflation, and price-strained homebuyers and sellers still in the market a bit of relief. Mortgage rates define how much interest is charged on any government regulated mortgage and are important to people who may be buying a house or car with a loan. As President of Via Real Estate, Adriana Perezchica says, “The drop in rates incentivized buyers to rush and try to lock rates this weekend, the difference in demand was significant.” People are attempting to take advantage of this, as one can only speculate how long it will last.
By: Lucian Slayden
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