Mortgage rates decline for 4th straight week [Yahoo! Finance Canada]
Federal National Mortgage Association (FNMA)
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Source: Yahoo! Finance Canada
Rates have declined for four consecutive weeks and are at the lowest since April. The housing market has been sluggish — many home sellers have stayed put to keep their favorable mortgage rates, while buyers facing affordability challenges retreated from the market. However, both inventory and affordability could ease up as rates are projected to decline for the remainder of the year. "We are probably going to see rates decline slowly from here through the end of the year," Joel Kan, deputy chief economist for the Mortgage Bankers Association, told Yahoo Finance. "And if our forecast is right… that helps potential homebuyers." Read more: Mortgage rates today, June 27, 2024: The mortgage rates seesaw continues Projected rate decline The Mortgage Bankers Association is currently predicting the Federal Reserve will cut its benchmark federal funds rate twice in 2024, lowering mortgage rates to around 6.5% by the end of this year. ADVERTISEMENT "I think the odds are still flu
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FNMA
Sec Filings
- 6/13/24 - Form 8-K
- 5/20/24 - Form 3
- 5/14/24 - Form 3
- FNMA's page on the SEC website