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Mortgage and refinance rates today, January 7, 2024: 30-year rate inches closer to 7%

Yahoo Finance
Summary
Nutrition label

83% Informative

The 30-year fixed mortgage rate has risen by four basis points to 6.71% , and the 15-year .

Mortgage interest rates are expected to decrease in 2025 , but the declines will likely be gradual.

Remember that these are the national averages and rounded to the nearest hundredth.

Refinance rates are usually higher than purchase rates.

According to the CME FedWatch tool, it looks likely the fed funds rate will stay the same at the January meeting.

This means rates probably won't significantly drop before Jan. 29 .

Mortgage rates will probably gradually drop throughout 2025 , but they're unlikely to plummet anytime soon.

VR Score

90

Informative language

93

Neutral language

63

Article tone

informal

Language

English

Language complexity

36

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

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Known propaganda techniques

not detected

Time-value

medium-lived

Source diversity

1

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