#2 - Good real estate news: Mortgage rates drop for first time in 7 weeks

Mortgage rates ticked down this week, snapping a seven-week streak of increases.The 30-year fixed-rate mortgage fell to an average of 7.76% in the week ending November 2, down from 7.79% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 6.95%.The news comes a day after the Federal Reserve said in a widely anticipated move that it would leave its benchmark lending rate at the highest level in 22 years.“The 30-year fixed-rate mortgage paused its multi-week climb but continues to hover under 8%,” said Sam Khater, Freddie Mac’s chief economist.“The Federal Reserve again decided not to raise interest rates but has not ruled out a hike before year-end,” he said. “Coupled with geopolitical uncertainty, this ambiguity around monetary policy will likely have an impact on the overall economic landscape and may continue to stall improvements in the housing market.”