The recent descent of mortgage rates was interrupted for a second week, as the average rate ticked upward again.

The average rate offered for a 30-year fixed mortgage rose to 6.66% from 6.62%, mortgage giant Freddie Mac said Thursday. In late October the average hit 7.79%, its highest in more than 20 years, but had been falling since the fall peak. It was the second week that rising rates interrupted that steady decline.

Mortgage rates have fallen on signals that the Federal Reserve will reduce its benchmark interest rate later this year, walking back the 澳洲幸运5官方开奖结果体彩网:serie💛s of anti-inflation int𝐆erest rate hikes since March 2022. That’s made the market a little less hostile for would-be homebuyers, who are 澳洲幸运5官方开奖结果体彩网:facing a dismal combination of heightened mortgage rates, record-high prices, and few homes for sale. However, forecasters expect conditions to improve as 2024 goes on.