While people wait for better mortgage rates, it’s recommended you have your homebuying and refinancing budgets in place.
SEATTLE — As of Nov. 1, the national average mortgage rate, depending on the type of loan, is hovering just above or below seven percent.
Mortgage rates are “likely to ease” in light of the Federal Reserve’s Sept. 18 announcement that it would cut the federal funds rate by half of a percentage point (50 basis points) — and that it would consider additional cuts before the end of 2024.
Whether now is the time to buy or refinance your home loan based off the latest
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