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Stock impact report

Mortgage rates today, April 13, 2024: Rates hover near 7% [Yahoo! Finance]

Federal National Mortgage Association (FNMA) 
Company Research Source: Yahoo! Finance
Economists do expect rates to gradually decrease this year, though. Fannie Mae's latest forecast predicts the average 30-year rate will be at 6.4% by the end of 2024, while the Mortgage Bankers Association predicts it will go down to 6.1%. While these may not be the groundbreaking drops potential home buyers had been hoping for, these reports are still signs that rates will probably go down overall this year rather than continue to increase. You could potentially save roughly half a percentage point by waiting until later in the year to buy. Consider whether you're willing to hold off buying to snag that lower rate. If you're in no rush, you could use this year to save more for a down payment and improve your credit score while you wait for rates to drop — the stronger your finances, the better your rate should be. But if you're ready to buy now, know that rates probably won't plummet anytime soon. You might decide it's worth it to start your home-buying journey sooner rather than Show less Read more
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