Home buyers are asking, “Are interest rates going up?” Mortgage interest rates have moved higher over the past year, but have begun decreasing over the past couple weeks. And despite the increases from last year, they remain low by historical standards. But the mortgage rate environment this year changed drastically from the previous few years when borrowers enjoyed much lower interest rates.
Decreasing inflation and a pause in rate hikes from the Federal Reserve have worked to lower mortgage rates in recent weeks.
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