Yahoo Finance analyzed on the 13th (local time) that although the U.S. mortgage interest rate has fallen below 7%, it is difficult to see a meaningful decline.
According to Freddie Mac, the weekly average interest rate for a 30-year fixed-rate mortgage fell from 6.99% the previous week to 6.95%.
The media reported that the decline in mortgage interest rates is likely not yet enough for homebuyers. Yahoo Finance then predicted that since the Federal Reserve signaled an interest rate cut once this year, it would take at least a year for mortgage interest rates to fall significantly.
A recent study found that the majority of homebuyers, especially first-home buyers, said they would need a much lower mortgage ban to enter the market.