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Mortgage rates stabilize near year-ago levels as rate pressures ease

Zillow Research links the stabilization to tentative progress on geopolitical fronts that has tempered a recent rise in mortgage rates, even as borrowing costs remain elevated.

Reported · Written up by our desk · Mortgages

Mortgage rates have stabilized at roughly year-ago levels, according to Zillow Research. The outlet says recent increases have eased as market pressures on borrowing costs came down.

Zillow Research attributes the improvement to tentative progress on geopolitical fronts, which it says has tempered a recent oil-related shock. That change has helped keep mortgage rates from continuing their climb.

Even with the stabilization, Zillow Research notes that housing demand still faces challenges. The outlet points to elevated borrowing costs and tougher year-over-year comparisons that could make the second half of the year softer for housing.

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