Waiting for 6% Mortgage Rates? How Homebuyers Can Get That Now [CNET News]
Federal National Mortgage Association (FNMA)
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Source: CNET News
US households have felt the pain of higher interest rates over the last two years. Homebuyers taking out a home loan with a 7% interest rate are likely budgeting hundreds more than expected to cover their average monthly mortgage payment A recent survey by Realtor.com noted that 22% of potential homebuyers said they'd be more willing to take on a mortgage if rates were to drop below 6%. Most mortgage forecasts don't expect rates to dip below that number until 2025. But you don't have to wait for market rates to drop. Getting a 6% mortgage rate could be possible right now. What are average mortgage rates now? Mortgage rates change daily, but as of March, the average weekly rate on a 30-year fixed-rate mortgage has been around 7%, according to Bankrate, CNET's sister site. Rates generally climb higher when the economy is strong and drop at the sign of trouble. When the pandemic pushed the economy into uncertainty in 2020, rates plummeted to historic lows and hovered below 4%
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FNMA
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FNMA
Sec Filings
- 4/26/24 - Form 8-K/A
- 4/22/24 - Form 8-K
- 2/22/24 - Form 8-K
- FNMA's page on the SEC website