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With Mortgage Rate Topping 7%, What Will it Take to Soften the Market?
Orange County Register, April 22, 2024–Jeff Lazerson
Only an uptick in inventory will help buyers find more affordable house payments.
“The 30-year fixed-rate mortgage surpassed 7% for the first time this year,” said Sam Khater, chief economist at Freddie Mac. “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the year.”
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