Real estateUpdated 2h ago

Mortgage rates were below October’s average by Thursday.

Freddie Mac’s average for 30-year fixed mortgage rates was 7.3% in October; the report said rates had fallen to 7.1% as of Thursday. NAR Chief Economist Lawrence Yun attributed the sales decline to mortgage rates pushing buyers out. He said a decline in rates could bring sizable pent-up demand.

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