> Mortgage rates continue to drop. Should I wait to buy a home?
Mortgage rates continue to drop. Should I wait to buy a home?
Clip ID 2301161
Clearance
Add to
Share
Add to Review Link
By Request
By Request assets are not available for immediate purchase.
This content has not been pre-checked for copyright.
Per clip rates are for 20 seconds of final usage. If you are using more then 20 seconds or need a different file format or have questions about clearances contact us
Description
Many throughout the United States are wondering is 2024 is a good time to buy a new house as mortgage rates continue to fall for the ninth week in a row.
CBS 8 is Working for You to find out what this drop in rates means for prospective homebuyers.
Will 2024 be a better time to buy a house?
Rates in 2023 were nearly eight percent, some of the highest mortgage rates the market had seen in years.
But they have since gone down. Rates are under seven percent, the lowest level since May of last year.
"I think the outlook looks good as far as interest rates are concerned,” said Alan Gin, an economics professor at the University of San Diego.
Gin says the Federal Reserve started raising interest rates to combat inflation.
FULL STORY: https://www.cbs8.com/article/news/local/working-for-you/mortgage-rates-drop-buy-a-house/509-9d711dc5-48e1-4897-8133-45f418d6ddf7