Mortgage Rates Hold Steady as Federal Reserve Meeting Approaches

With inflation showing signs of cooling, the Fed is expected to maintain the current rate, impacting mortgage trends.

30-year fixed mortgage rates remain around 6.87%, while 15-year rates have slightly decreased.
The Federal Reserve is anticipated to keep the benchmark rate unchanged at its upcoming meeting.
Homebuyers may benefit from increased inventory and less competition in the market.
Mortgage rates are expected to trend down later in 2024 as inflation continues to slow.
Experts suggest considering current market conditions for potential refinancing opportunities.