July Mortgage Rate Forecast: Buyers Retreat as Rates Rebound
Buyers should keep an eye on the possibility of rate cuts in the next few months. Tharon Green/CNET Every time the average 30-year fixed mortgage rate dips, even by a few tenths of a percentage point, prospective homebuyers jump to take advantage. As soon as rates move up again, mortgage activity goes down. The past few weeks offer a textbook example. When rates fell to around 6.7% (the lowest level in months) in early July, applications for home loans promptly ticked up, according to the Mort