Home buyers are asking, “Are interest rates going up or down,” quite often these days. Mortgage rates have come down since last year’s highs, and are expected to continue the trending down throughout the year. As inflation cools from last year, the Fed is even considering implementing rate cuts throughout 2024. Currently in the mid-6% range, mortgage interest rates continue to remain fairly low if we look back historically. The real question for those looking to enter the housing market and purchase a new home is, will interest rates continue to come down in 2024 and make a home purchase more affordable?
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