Real Estate Interest Rates in 2024
January 2024 Boston condo for sale mortgage interest rates are 7.50%
November Boston condo for sale mortgage interest rates 7.94%
_______________________________________________________________________
For today, Tuesday, October 24, 2023, the current average interest rate for the benchmark 30-year fixed mortgage is 7.98%, rising 6 basis points over the last week.
Updated: Boston condo for sale website 2023
_______________________________________________________________________________________________
Boston condo mortgage rates continue to rise, in the month of October close to 8% at (7.8%).
_______________________________________________________________________________________________
______________________________________________________________________________________________________________________________________________________________
For a 30-year, fixed-rate mortgage, the average rate you’ll pay is 7.14%,
____________________________________________________________________________________________________________________
________________________________________________________________________________________________________________________________________________________________
Fed pauses interest rate hikes
The Federal Reserve on Wednesday halted its streak of 10 consecutive rate hikes since March 2022.
The pause is welcome news in the housing industry, which has seen mortgage rates roughly double since the start of last year, but the relief is unlikely to last.
After the unanimous vote to leave rates as is, Fed Chair Jerome Powell said more increases are likely later in the year to help bring down inflation.
“Tuesday’s CPI report suggests that inflation pressures persist, and the Fed will consider another hike next month,” CoreLogic Chief Economist Selma Hepp said. “The likelihood of another hike or two has also increased, given the lack of credit crunch the Fed was expecting from the banking…