Mortgage Rates Rise, Economic Factors and Fed Policies in Play

As of April 2, 2024, 15- and 30-year fixed mortgage rates have increased, with potential relief for homebuyers expected later in the year.

Mortgage rates for 15- and 30-year fixed loans have increased, with the 30-year rate at 7.125% and the 15-year rate at 6.125% as of April 2, 2024.
Rates fluctuate daily and are influenced by economic conditions, personal factors, and the Federal Reserve's policies.
Economists expect rates to ease down in 2024, potentially offering relief to homebuyers.
The Federal Reserve held its benchmark interest rate steady, signaling possible rate cuts later in the year.
A settlement in the real estate industry could change homebuying by allowing consumers to negotiate broker commissions.