![]() Once it looks clearer that inflation is coming down to the Fed's 2% target, mortgage rates should ease. ![]() Mortgage rates are expected to go down this year, but they likely won't start falling until we get more data showing that inflation is continuing to slow. Because the economy is still so strong, it's possible that the Federal Reserve could keep the federal funds rate higher for longer, which would likely keep mortgage rates elevated as well.Ĭurrently, average 30-year mortgage rates are around 30 basis points up from January's average, according to Zillow data.
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