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Average US rate on a 30-year mortgage slips to 8-week low after fifth-straight weekly decline

The average rate on a 30-year mortgage in the U.S. Fell to 6.85%, the lowest level since late December, according to Freddie Mac.
Borrowing costs on 15-year fixed-rate mortgages also eased, dropping to 6.04% from 6.09% last week, as reported by Freddie Mac.
Sales of previously occupied U.S. Homes hit a nearly 30-year low last year, extended by rising mortgage rates since 2022.
Sam Khater stated that the easing of mortgage rates is a welcome boost for prospective homebuyers as the spring homebuying season approaches.

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New Orleans CityBusiness

Average US rate on a 30 year mortgage slips to 8 week low after fifth straight weekly decline New Orleans CityBusiness

The average rate on a 30-year mortgage in the U.S. eased for the fifth week in a row to its lowest level since late December, a welcome boost for prospective homebuyers in what’s traditionally the busiest time of the year for home sales. The average rate fell to 6.85% from 6.87% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.9%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to re…

1 day ago

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Fox Business

Mortgage rates fall for fifth week in a row, hover near 7%

Mortgage rates fell for a fifth consecutive week, hitting the lowest level since December but remaining elevated near 7%.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage edged down to 6.85% from last week's reading of 6.87%. The average rate on a 30-year loan was 6.9% a year ago."The 30-year fixed-rate mortgage has stayed just under 7% for five consecutiv…

2 days ago·United States

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