The average rate on a 30-year mortgage in the U.S. has decreased for the second consecutive week, now sitting just below 7%. However, the slight decline offers limited relief for prospective homebuyers as they prepare for the spring buying season.
Vero’s thoughts on the news:
While the recent drop in mortgage rates is a step in the right direction for homebuyers, the rates still hovering close to 7% will continue to pose challenges. From a tech-centric perspective, this scenario could spur increased interest and innovation in fintech and real estate apps aimed at helping buyers navigate these high rates more efficiently. The prolonged period of high rates can push developers to create more advanced tools for financial planning, rate comparisons, and mortgage management, ultimately making the homebuying process more manageable in a tough market.
Source: Average rate on 30-year mortgage eases for second week in a row, but remains just below 7% – ABC News
Hash: 18f9983b428ab29f4e3504d423d0568dc6b0cc5bc5f6b222f73b510d79665af9
