Mortgage Rates Ease Again, but Remain Higher than This Time Last Year
Freddie Mac said the decline was the second straight weekly drop, though mortgage costs remain well above a year ago and continue to limit homebuyers.
- Freddie Mac reported Thursday that the benchmark 30-year mortgage rate fell to 6.65% from 6.67% last week, marking the second consecutive weekly decline.
- With bond yields marching higher recently due to inflation and the war with Iran, the Treasury Department said Wednesday it would at least double bond buybacks to help pull down yields.
- Borrowing costs on 15-year fixed-rate mortgages also eased to 5.95% from 5.96% last week, though one year ago the average rate was 6.58%.
- Despite the recent pullback, mortgage rates remain elevated compared with last year, limiting homebuyer purchasing power as sales of previously occupied homes were essentially flat last year.
- Mortgage rates are influenced by Federal Reserve policy decisions and expectations from bond market investors; they generally follow the 10-year Treasury yield, which lenders use as a pricing guide.
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US mortgage rates fall for second straight week to 6.65%
The slight dip in mortgage rates may boost buyer confidence, potentially easing the housing market's stagnation and benefiting first-time buyers. The post US mortgage rates fall for second straight week to 6.65% appeared first on Crypto Briefing.
The average rate of long-term mortgages in the United States fell for the second consecutive week, but remains high compared to this same time last year.
Rates Still Sitting in the ‘Silver Lining,’ But Future is ‘Volatile’
Mortgage rates remain mostly better historically as this week and last observed some slight decreases, according to the latest data from Freddie Mac. However, the persistence of economic and market headwinds put this silver lining at risk. The latest Freddie Mac Primary Mortgage Market Survey® saw the 30-year fixed-rate mortgage (FRM) average 6.65% as of… The post Rates Still Sitting in the ‘Silver Lining,’ But Future is ‘Volatile’ appeared firs…
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