Maybe a new home is on Millennial's holiday wish list as experts predict that younger adults will continue to house hunt during the holidays and new year, which typically slows in colder months.
In spite of a four-week run where mortgage interest rates have been below 3.6%, the 30-year fixed-rate mortgage bumped up an average 0.5 point last week to an average of 3.49%.
The 4% mortgage is back! The average rate on a 30-year fixed rate mortgage was down nearly a quarter point this week from a week earlier, its biggest drop in over a decade. Mortgage rates are fast approaching 4%, low enough to help the housing market rebound as the spring season approaches.
With spring selling season about to kick off, lower rates will restore buying power to potential home buyers and counteract continued home price increases and economic uncertainty.
