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Mortgage rates drop below 7 percent ...Middle East
Mortgage rates fell below 7 percent this week, according to data released by Freddie Mac on Thursday, after weeks of steady increases amid the Federal Reserve's battle with persistent inflation. The 30-year fixed mortgage rate dropped to 6.95 percent as of Nov. 3, down from 7.08 percent last week. “Mortgage rates continue to hover around seven percent, as the dynamics of a once-hot housing market have faded considerably,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Unsure buyers navigating an unpredictable landscape keeps demand declining while other potential buyers remain sidelined from an affordability standpoint. Yesterday’s interest rate hike by the Fede
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