The pandemic-era days of 3% mortgage rates are behind us, but today’s rates have lowered to just above 6%. With rates trending downward, homebuyers may wonder whether now is the time to buy or to wait for further declines.
Understand how rates have changed – and what they mean for affordability and home sales – to consider whether you should act on a 6% mortgage rate.
Today’s mortgage rates may seem high to buyers who remember extremely low pandemic-era rates, but they are the lowest they’ve been in about three years.
This post originally appeared at U.S. News & World Report.