US EditionAverage long-term US mortgage rate eases to 6.3%, back to its lowest level in about a year
The average 30-year fixed mortgage rate fell to 6.3%, its lowest in a year, boosting refinancing which made up over 53% of loan applications, Freddie Mac reported.
- On Thursday, Freddie Mac said the average rate on the popular 30-year fixed-rate mortgage dropped to 6.30% from 6.34% last week in the United States.
- Federal Reserve rate moves have influenced mortgage borrowing costs this week as mortgage rates eased with the Federal Reserve resuming cuts amid a stagnant labor market.
- Refinancing activity remains strong, with refinance loan applications making up 53.3% and the 15-year fixed-rate mortgage rate easing to 5.53%.
- The recent rate drop could prompt a modest rise in sales in coming weeks, as contract signings and the Pending U.S. home sales index show a month-over-month uptick in August.
- The average rate has returned to its lowest level in about a year, analysts note, but about 80% of U.S. homes with a mortgage have rates below 6%, limiting refinancing appeal.
46 Articles
46 Articles
Mortgage rates fall for first time in 3 weeks
Mortgage rates fell for the first time in three weeks this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage decreased to 6.3% from last week's reading of 6.34%. The average rate on a 30-year loan was 6.32% a year ago."Over the last few weeks, mortgage rates have settled in at their lowest level in about a year," …
Average Long-Term US Mortgage Rate Eases to 6.3%, Back to Lowest Level In About a Year
The average rate on a 30-year U.S. mortgage edged lower this week, returning to its lowest level in about a year. The average long-term mortgage rate slipped to 6.3% from 6.34% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.32%. The modest drop brings the average rate back to where it was two weeks ago, after a string of declines brought down home loan borrowing costs to their lowest level since early Octobe…
Mortgage Rates Move Down
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.30%. “Mortgage rates decreased this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last few weeks, mortgage rates have settled in at their lowest level in about a year. There is growing evidence that homebuyers are digesting these lower rates and gradually are willing to move forward wi…
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