Mortgage rates are slipping after a rapid rise


Mortgage rates have been on the rise since mid-March, but recently have seen a drop-off. According to Freddie Mac, the average rate for a 30-year fixed mortgage was around 4.3% on Feb. 5, but had risen to 4.83% as of Mar. 18. However, in the last week rates have dropped and now stand at 4.67%. It is unclear if this drop is temporary or the start of a longer-term trend.


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