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Average US long-term mortgage rate slips to 6.23%, its third weekly drop
The average rate fell to 6.23%, its lowest since March 19, as 15-year mortgage costs also eased, Freddie Mac said.
- Freddie Mac reported the benchmark 30-year fixed mortgage rate fell to 6.23% from 6.30% last week, marking the third consecutive week of decline.
- United States 10-year Treasury bond yields eased to 4.30% in midday trading, down from 4.32% a week ago, as lenders use these bonds to guide mortgage pricing.
- Uncertainty surrounding the fragile ceasefire between the United States and Iran maintains volatility, as the conflict previously sent energy prices soaring and heightened inflation worries.
- Lisa Sturtevant, chief economist at Bright MLS, told The Associated Press that "mortgage rates will likely continue to be volatile throughout the spring," requiring sustained energy market stability.
- Despite recent rate dips, homeownership remains costly; a WalletHub analysis found Hawaii residents spend about 50% of their earnings on housing, compared to Iowa residents at closer to 17%.
27 Articles
27 Articles
Mortgage Rates Decline for Third Straight Week, Offering Relief Ahead of Spring Buying Season
Borrowing costs for U.S. homebuyers continued their downward slide, with the benchmark 30-year fixed mortgage rate falling to 6.23 percent from 6.3 percent a week earlier. The post Mortgage Rates Decline for Third Straight Week, Offering Relief Ahead of Spring Buying Season appeared first on Breitbart.
US fixed 30-year mortgage rate drops to 6.23%
WASHINGTON, April 23 (Reuters) – The average rate on the popular U.S. 30-year fixed-rate mortgage fell this week, though further declines are likely to be limited by uncertainty surrounding a fragile ceasefire between Washington and Iran. The 30-year fixed mortgage rate averaged 6.23%, down from 6.30% last week, mortgage finance agency Freddie Mac said on Thursday. It averaged 5.98% just before the U.S. and Israel attacked Iran at the end…
Associated Press News
Average US long-term mortgage rate slips to 6.23%, its third weekly drop
The average long-term U.S. mortgage rate dropped for the third week in a row, easing borrowing costs for prospective homebuyers as the spring homebuying season rolls on.
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