Mortgage Rates Hover Near 7% as Inflation Eases

Despite recent declines, mortgage rates remain high, impacting home affordability and market dynamics.

The average 30-year mortgage rate is currently around 6.97%, with slight fluctuations reported across sources.
Inflation has slowed, leading experts to anticipate potential rate decreases in the coming months.
The Federal Reserve's monetary policies continue to influence mortgage rates indirectly.
Home prices are expected to rise due to limited supply and easing mortgage rates.
Borrowers are advised to shop around for the best mortgage deals in this high-rate environment.