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However, Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), remained optimistic, expecting mortgage rates to inch down gradually alongside an increase in available homes.
“MBA expects mortgage rates to continue to decline slowly, which, along with more new and existing housing inventory, should boost homebuying activity in the months ahead,” Broeksmit said.
NerdWallet mortgage expert Holden Lewis agreed: “Mortgage rates are at their lowest levels since last April. January is typically the slowest month of the year in home sales, but today’s mortgage rates might spur some people to go house-shopping now rather than waiting until spring.”
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