US EditionAverage Rate on a 30-Year Mortgage Falls Again, Dips to Lowest Level Since Early October
- Mortgage rates on 30-year fixed loans fell again this week to 6.26%, prompting increased refinance activity in the U.S.
- The decline in rates follows a quarter-point cut by the Federal Reserve on Wednesday and expectations of more cuts this year.
- Freddie Mac reported that the average rate on 15-year fixed mortgages also dropped to 5.41% from last week's 5.5%, encouraging refinancing.
- Sam Khater, Freddie Mac's chief economist, highlighted that the proportion of mortgage applications for refinancing approached 60%, marking its highest level observed since January 2022.
- The continued rate declines indicate easing borrowing costs, which could improve housing affordability amid ongoing economic uncertainties.
28 Articles
28 Articles
By Samantha Delouya, CNN The Federal Reserve's rate cut this week has had an impact on the housing market and pushed mortgage rates lower, causing a surge in refinancing applications. The average 30-year fixed mortgage rate was 6.26% for the week ending September 18, down from 6.35% the previous week, according to data released Thursday by Freddie Mac. This is the fourth consecutive week of reductions, as mortgage rates fell in anticipation of t…
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The Business TimesMortgage rates fall again, refinances jump to highest level since 2022
Mortgage rates fell again 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 fell to 6.26% from last week's reading of 6.35%. The average rate on a 30-year loan was 6.09% a year ago.TREASURY'S BESSENT SAYS FIXING HOUSING AFFORDABILITY CRISIS WILL BE ONE OF HIS 'BIG PROJECTS' THIS FALL"Mortgage rates decreased y…
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