Average 30-year U.S. mortgage rate rises to 6.49%, little changed from its range the past 6 weeks
Purchase activity eased while refinance demand picked up as mortgage rates stayed near 6.5%, Freddie Mac said.
- Freddie Mac reported Thursday that the average 30-year fixed Mortgage rate rose to 6.49% from 6.47% last week, continuing elevated Borrowing costs for prospective homebuyers.
- Ongoing conflict with Iran has disrupted Persian Gulf Oil flows since late February, driving up inflation and Bond yields, which pushed Mortgage Rates higher.
- The 10-year Treasury yield stood at 4.38% midday Thursday on the bond market; Borrowing costs on 15-year fixed-rate Mortgage loans also rose this week.
- Uncertainty about Rates trajectory has kept many homebuyers on the sidelines, while existing home Sales hover near a 4-million annual pace, far below the 5.2-million historic norm.
- The Federal Reserve has signaled potential interest rate hikes later this year, though Oil prices recently decreased amid negotiations to end the war with Iran.
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Fox Business
The New York LedgerMortgage rates tick slightly higher amid Iran, inflation uncertainty
Mortgage rates ticked slightly higher this week, but were little changed, mortgage buyer Freddie Mac said on Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.49% from last week's reading of 6.47% and 6.52% the week before last.The average rate on a 30-year loan was 6.77% at this time a year ago.HOUSING AFFORDABILITY UNLIKELY TO RETURN TO MOR…
Associated Press News
Average 30-year U.S. mortgage rate rises to 6.49%, little changed from its range the past 6 weeks
The average long-term U.S. mortgage rate edged higher this week, staying close to 6.5%, where it’s been the last six weeks.
Average 30-year U.S. mortgage rate rises to 6.49%, little changed from its range the past 6 weeks - WXXV News 25
By ALEX VEIGA The average long-term U.S. mortgage rate edged higher this week, staying close to 6.5%, where it’s been the last six weeks. The benchmark 30-year fixed rate mortgage rate rose to 6.49% from 6.47% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.77%. When mortgage rates rise they can add hundreds of dollars a month in costs for borrowers, reducing their purchasing power. Borrowing costs on …
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