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Mortgage rates dipped slightly late last week but remain relatively high. High rates continue to weigh on homebuying demand, but we could see them start to trend down in the second half of 2024.
Average 30-year mortgage rates ticked up above 7% in April, the highest they've been so far this year, according to Zillow data. Rates have been hovering in the upper 6% to low 7% range for several weeks now.
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