-November 16,2023-
Mortgage rates should trend down in the next week, according to the majority of rate watchers polled by Bankrate this week.
Of those polled, 78 percent of respondents believe mortgage rates will decrease in the upcoming week and 22 percent believe rates will stay the same. None predict that rates will rise.
The average 30-year fixed rate dropped to 7.66 percent as of Nov. 15, according to Bankrate’s national survey of large lenders, down from 7.69 percent the previous week.
Prediction on rates by Jeff Lazerson,President, MortgageGrader “Way down. A roller coaster ride down! Thank you CPI.”
By the way -might as well wait to fill that gas tank as well as oil and gasoline prices plunge too. There has been a
“a sharp rise in U.S. crude inventories over the past two weeks” say analysts.
Energy Information Administration states it anticipates a 1% decline in US gasoline consumption in 2024, which would mark the lowest per capita gasoline consumption in 20 years, driven by factors like remote work, improved fuel efficiency, high gasoline prices, and persistent inflation.
Happy Thanksgiving