Weekly Mortgage Rate Update: Rates Stay Steady With a Small Bump
Mortgage rates stayed mostly the same this week, with just a small increase. Even with some movement in the market, things have remained fairly calm, which is good news for homebuyers and homeowners planning to refinance.
Right now, rates are staying within a narrow range. That means the market is waiting to see what happens next with the economy. Because of this, we’re not seeing big jumps in mortgage rates — and that can give buyers a bit more peace of mind.
The small increase in rates came after new reports about jobs and inflation. These reports show the economy is still strong, but it’s starting to slow down a bit. Lenders and experts are watching closely to see how this will affect future moves by the Federal Reserve.
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