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Market Forecast as Rates Drop

"Homebuyers who are gearing up to shop the spring housing market might wonder whether the mortgage rate gods will smile in their favor.

They’re right to worry: In October, rates hit a 23-year high of 7.79% for a 30-year fixed loan, according to Freddie Mac.

Since then, rates have come down to the high 6% range. The® 2024 forecast predicts they might dip further to 6.5% by year’s end."

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