"The 30-year fixed-rate mortgage moved down this week, but not by much," said Sam Khater, Freddie Mac's Chief Economist in a statement. "Rates have been relatively flat over the last few weeks as the market waits for more clarity on specific economic policies."
"Homebuyers are facing an uphill battle when it comes to financing their prospective purchases, with mortgage rates continuing to hover just under 7%," says Realtor.com senior economic research analyst Joel Berner in his analysis.
"This downward movement in Treasury yields comes amidst growing certainty over President-Elect Trump 's cabinet and policy plans," says McLaughlin. This includes details surrounding Trump's pick for the position of Treasury Secretary and specifics on the breadth and depth of tariffs on overseas goods.
"This should continue to put downward pressure on mortgage rates through the first week of December," says Realtor.com senior economist Ralph McLaughlin, potentially giving homebuyers a chance to lock in lower rates.
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