As mortgage rates rise to their highest levels in two months, Freddie Mac warns rates may stay higher for longer, which could affect spring buying
Feb. 15, 2024
2 min read
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“The economy has been performing well so far this year and rates may stay higher for longer, potentially slowing the spring homebuying season,” said Khater in a statement.
Mortgage applications to buy a home so far in 2024 are down in more than half of all states compared to a year earlier, Khater said.
“Mortgage rates have been volatile due to strong employment data, rising last week and leading to a 2% drop in applications,” said Bob Broeksmit, CEO of Mortgage Bankers Association in a release.
