On Monday, Nerdwallet released the average mortgage rates in the country.
Rates ticked up week to week after the Federal Reserve raised interest rates this past Wednesday by .25%, even though we had bank failures the week prior. The Fed has decided that taming inflation is still its primary focus.
That being said, interest rates are lower than the 2023 high of March 13th. If you were preapproved around then, make sure to check in with the lender, as you may have a lower rate now.
What do we see in the New Orleans Market? Check out our Monthly New Orleans Market Review, which comes out the second Thursday of the month! Read the February Snapshot now!
If you have any questions about strategizing whether to buy now or later, please feel free to contact our team of Real Estate Advisors. We can help you make the wisest decision for you!
Questions? Reach out to one of our advisors for a chat!
Link to full Nerdwallet article: https://www.nerdwallet.com/article/mortgages/mortgage-interest-rates-forecast