Mortgage Rates Fall To Lowest Level Since February 2023
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2024
0mins
Source: Benzinga
Mortgage Rate Decline: Mortgage rates have fallen to their lowest in over 18 months, with the average rate for 30-year fixed-rate mortgages dropping to 6.29%, encouraging more homebuyers to refinance their loans.
Market Activity: The refinance share of mortgage applications increased slightly to 46.7%, while overall mortgage applications rose by 1.4% from the previous week, despite ongoing affordability challenges and limited inventory affecting purchase decisions.
Analyst Views on TREE
Wall Street analysts forecast TREE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TREE is 81.33 USD with a low forecast of 72.00 USD and a high forecast of 85.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 67.490
Low
72.00
Averages
81.33
High
85.00
Current: 67.490
Low
72.00
Averages
81.33
High
85.00
About TREE
LendingTree, Inc. operates LendingTree.com, an online financial services marketplace. The Company provides customers with access to offers on loans, credit cards, insurance and more through its network of approximately 430 financial partners. Its segments include Home, Consumer, and Insurance. The Home segment includes products, such as purchase mortgage, refinance mortgage, and home equity loans and lines of credit. Its Consumer segment includes products, such as credit cards, personal loans, small business loans, auto loans, deposit accounts, and other credit products such as debt settlement. The Insurance segment consists of insurance quote products and insurance policies in its agency businesses. It helps customers obtain financing, save money, and improve their financial and credit health in their personal journeys. With a portfolio of products and tools and personalized financial recommendations, the Company helps customers achieve everyday financial wins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
