US EditionAverage US long-term mortgage rate eases to 6.37% after rising five weeks in a row
Mortgage applications fell 0.8% last week as the benchmark rate eased after five straight increases, Freddie Mac said.
- The average long-term mortgage rate dropped to 6.37% this week, according to Freddie Mac, offering modest relief after five consecutive weeks of increases.
- Inflation worries following the conflict with Iran pushed up Treasury yields earlier, though yields began easing after the two parties agreed to a temporary ceasefire.
- Borrowing costs on 15-year mortgages also eased to 5.74% this week, while rising rates continue adding hundreds of dollars monthly in costs for buyers, limiting affordability.
- Jiayi, an economist at Realtor, cautioned that while bond yields eased, any relief may prove short-lived as Federal Reserve policy decisions remain a primary influence.
- Sales of previously occupied homes remain stuck at a 30-year low, and Mortgage Bankers Association data shows applications fell 0.8% last week, reflecting sluggish conditions.
25 Articles
25 Articles
Mortgage rates ease after rising five weeks in a row
The average long-term U.S. mortgage rate eased this week, a modest relief for prospective homebuyers who have been facing higher borrowing costs as mortgage rates climbed to the highest level in nearly seven months.
Average mortgage rate eases to 6.37% after rising five weeks in a row
The average long-term U.S. mortgage rate eased this week, a modest relief for prospective homebuyers who have been facing higher borrowing costs as mortgage rates climbed to the highest level in nearly seven months. Mortgage buyer Freddie Mac said Thursday…
Santa Maria Times
The average rate of long-term mortgages in the United States went down this week, giving modest relief to potential home buyers who have faced higher borrowing costs as mortgage rates reached their peak.
The Blade
Washington TimesAverage U.S. long-term mortgage rate eases to 6.37% after rising five weeks in a row
The average long-term U.S. mortgage rate eased this week, a modest relief for prospective homebuyers who have been facing higher borrowing costs as mortgage rates climbed to the highest level in nearly seven months.
Associated Press News
Average US long-term mortgage rate eases to 6.37% after rising five weeks in a row
The average long-term U.S. mortgage rate eased this week, a modest relief for prospective homebuyers who have been facing higher borrowing costs as mortgage rates climbed to the highest level in nearly seven months.
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