Steady Mortgage Rates amid Economic Uncertainty

The average rate for a 30-year mortgage in the U.S. remains unchanged at 6.76%, slightly below last year's 7.09%. The 15-year fixed mortgage rate also saw a decrease to 5.89%.

These rates are influenced by the fluctuations in the 10-year Treasury yield. Despite steady rates, high home prices and elevated mortgage costs are hindering buyer activity, resulting in a decline in previously occupied home sales.

Predictions from financial experts suggest potential declines in mortgage rates over the next few years, which could invigorate the housing market. However, concerns about inflation and economic uncertainty may continue to affect buyer sentiment and limit market recovery.