Mortgage rates ease again, but remain higher than this time last year
Freddie Mac said the benchmark rate fell four basis points as Treasury bond buying helped ease yields and keep borrowing costs elevated.
- Freddie Mac reported the benchmark 30-year mortgage rate fell to 6.65% from 6.67% last week, offering a reprieve following recent volatility in the Treasury yield.
- With bond yields marching higher in recent months on worries about high inflation and the war with Iran, the Treasury Department said Wednesday it would double bond buybacks to help pull down rates.
- Borrowing costs on 15-year fixed-rate mortgages also eased to 5.95% from 5.96% last week, though one year ago the average rate was 6.58%.
- Despite the recent pullback, rates remain elevated compared with last year, limiting homebuyer purchasing power as sales of previously occupied homes were essentially flat last year, stuck at a 30-year low.
- Expectations from investors and Federal Reserve policy decisions influence these rates, which generally follow the trajectory of the 10-year Treasury yield as a guide for mortgage lenders.
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Mortgage rates ease again, but remain higher than this time last year - WXXV News 25
By ALEX VEIGA The average long-term U.S. mortgage rate eased for the second week in a row, but remains elevated compared with this time last year. The benchmark 30-year fixed rate mortgage rate fell to 6.65% from 6.67% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.58%. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also eased this week. That averag…
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Mortgage rates eased downward this week. It's a minor movement for a surprisingly busy news week — there's a lot going on at the moment that has implications for potential home buyers and refinancers.The average rate on a 30-year fixed-rate…
Mortgage rates fall for second consecutive week
Mortgage rates fell for the second week in a row, 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 6.65% from last week's reading of 6.67%. The average rate on a 30-year loan was 6.58% a year ago.SLOWING LABOR MARKET CREATES NEW HURDLE FOR FIRST-TIME HOMEBUYERS FACING AFFORDABILITY SQUEEZE"With a dip in rates pr…
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