US Mortgage Rates Decline, Boosting Mortgage Demand Despite Low Inventory
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#fd4fc180 ver:0.81

US mortgage rates decline, boosting demand despite low inventory. Average rate on 30-year mortgage falls to 7.09%, first decline in four weeks. Rates remain high, posing challenges for homebuyers. Homebuilders increase production to address inventory shortage. Mortgage applications rise 1.9% due to lower rates, but purchase activity remains low. Federal Reserve monitoring labor market, may consider rate cut if weakening persists. Mortgage demand falls 2.3% as rates rise. It's still a good time to buy with historically low rates and improving economy. Freddie Mac expects limited home sales growth due to higher rates and limited inventory. Mortgage rates expected to remain elevated through 2024. #mortgagerates #housingmarket #economy...

#newstr #MortgageRates #MortgageDemand #HousingMarket #FederalReserve #HomeSales 

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