New Insider Deals are here, and you’re going to love them!A sign announcing that a home is under contract is displayed in Wilmette, Ill., Thursday, March 28, 2024. On Thursday, April 4, 2024, Freddie Mac reports on this weeks average U.S. mortgage rates. –
Rates have been drifting higher and lower in recent weeks, often from one week to the next. The average rate for the benchmark 30-year mortgage is now at its lowest level in a couple of weeks. In late February, it got up as high as 6.94% after stronger-than-expected reports on inflation, the job market and the economy clouded the outlook for when the Federal Reserve may begin lowering its short-term interest rate.
“While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near-term,” said Sam Khater, Freddie Mac’s chief economist.