- MBA and Fannie Mae expect mortgage rates to stay above 6% through 2025 due to a strong economy and possible rising inflation.
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- High mortgage rates and home prices drove 2024's median monthly housing payment to a record $2,775, up 11% year over year.
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- Purchase applications fell 7% for the week and were 15% lower than the same week a year ago, as higher rates weakened demand.
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