Latest Mortgage Rate Trends According to the most recent Freddie Mac data, the 30-year fixed-rate mortgage recorded 6.83% last week representing a 0.21 percentage point increase from the previous survey. While this is a slight uptick, it's noteworthy that rates continue to remain below the 7% threshold. In fact, this marks the thirteenth consecutive week below 7%, suggesting some stability in the rate environment. At this time last year, rates reached 7.1%, and mortgage applications were 13% lower than they are today which indicates this year's spring homebuying season is showing more activity despite similar rate levels. New Jersey Housing Market Conditions The New Jersey housing market, like many regions across the country, continues to face inventory challenges. Particularly in Bergen County and Palisades Park areas, many homeowners who refinanced at lower rates in previous years feel significant financial disincentives to sell their current homes and purchase new ones. Nevertheless, the New Jersey housing market maintains steady interest, especially in areas…