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Stock impact report

Homebuyers See Lower Mortgage Rates: Today's Mortgage Rates for Dec. 16, 2024 [CNET News]

First American Corporation (New) (FAF) 
Last first american corporation (new) earnings: 4/23 06:45 am Check Earnings Report
US:NYSE Investor Relations: investors.firstam.com
Company Research Source: CNET News
Check out CNET Money's weekly mortgage rate forecast for a more in-depth look at what's next for Fed rate cuts, labor data and inflation. In 2024, prospective homebuyers watched mortgage rates rise, fall and then rise again. Many hoped the housing market would open up when the Federal Reserve finally began lowering interest rates in September. Yet mortgage rates have remained high due to converging macroeconomic factors: strong economic data and concerns over President-elect Donald Trump's potentially inflationary policies. Mortgage rates surged over the past two months but got off to a better start in December. The average interest rate for a standard 30-year fixed mortgage is 6.73% today, down -0.06% over the last week. The average rate for a 15-year fixed mortgage is 6.04%, which is a decrease of -0.07% from the same time last week. With inflation slowing and the job market weakening, the Fed is set to make another 0.25% interest rate cut at its policy meeting on Dec. 18. Show less Read more
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