When Will Interest Rates Go Down? Home Mortgage Rates Decline 2 Weeks in a Row

Mortgage Interest rates have declined the last two weeks even as demand is starting to soften for mortgage loans. Interest rates have gone up over 2% in the last year while the Federal Reserve has signaled they will raise interest rates throughout the year to combat inflation. This decline in interest rates is the first two week decline this year since rates have gone up.

There has been talk that a housing crash will occur if home interest rates go up, but the current rates of 5% are still historically low, below the 7.7% median of the last 50 years. It would take substantial increases in home mortgage interest rates in addition to rapid number of homes on the market before home prices will decline substantially.

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