Mortgage rates drop for the first time in five weeks with experts adjusting their forecasts

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Mortgage Rates News

Freddie Mac,Chief Economist,Douglas Duncan

The average 30-year fixed mortgage rate dipped back toward 7% this week, settling at 7.20%.

Recent rate volatility — including this week's drop and last month's rise — has prompted some financial institutions to modify their mortgage outlook for the rest of 2024.

The Federal Reserve held the federal funds rate steady last week. Meanwhile, mortgage rates — influenced by the Fed's benchmark — have surged past 7% over the last three weeks. Higher for longer rates mean homebuyers must shell out more of their monthly paycheck to afford a home. These Canadian stocks could help TFSA investors generate solid tax-free capital gains and dividends. The post TFSA: 4 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.Stocks are primed to tumble into a bear market as bullish investors have driven equities to 1929 extremes, famed fund manager says3 No-Brainer Stocks I’d Buy Right Now Without Hesitation

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