Mortgage rates decline for first time in 2 months
The 30-year fixed rate fell eight basis points, but analysts say demand may stay weak until borrowing costs drop below 7%.
- The average rate on a 30-year fixed-rate mortgage slid to 7.26% APR in the week ending Oct. 22, according to rates provided to NerdWallet by Zillow, though rates remain firmly above 7%.
- Rising interest rates and labor shortages are slowing new construction at a critical moment when housing supply is needed most. Data released Monday by the National Association of Home Builders and Wells Fargo found builder sentiment at its lowest level in 14 years.
- The NAR reported Tuesday that pending home sales decreased 7.3% month over month and 11.3% year over year in September, with all four regional quadrants showing significant declines.
- As of the second quarter of this year, analysis of Federal Housing Finance Agency data shows 49.1% of outstanding mortgages carry interest rates of 4% or lower, creating a mismatch for current buyers.
- Thirty years ago, the average 30-year mortgage rate was 7.86%, yet the median home price was just $121,400—roughly $258,000 in today's dollars—compared to $417,500 in September 2026.
46 Articles
46 Articles
Mortgage rates decline for first time in 2 months
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Mortgage rates decline for first time in 2 months The average 30-year fixed mortgage rate dipped this week to 7.32 percent, according to new data from Freddie Mac. © George Walker IV, The Associated Press That…
Mortgage rates are finally giving American borrowers a little respite after eight consecutive weeks of increases.
Samantha Delouya Mortgage rates are finally giving US borrowers a little respite after eight consecutive weeks of increases.The average fixed rate mortgage rate at 30 years fell to 7.32 percent this week, compared to 7.40 percent last week, according to Freddie Mac. It was the biggest weekly fall of
Mortgage Rates Remain Above 7% in a Stalled Housing Market
Mortgage rates eased downward a little this week, but they're still firmly north of 7%.The average rate on a 30-year fixed-rate mortgage slid eight basis points to 7.26% APR in the week ending Oct. 22, according to rates provided to…
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