US EditionMortgage rates hit lowest level in more than 3 years
Refinance applications surged 40% last week as 30-year mortgage rates fell to 6.06%, the lowest in over three years, Freddie Mac reported.
- This past week, Freddie Mac reported the benchmark 30-year fixed mortgage eased to 6.06%, the lowest since Sept. 15, 2022, down from 6.16% last week.
- Earlier this month, Federal Reserve rate cuts and investors buying long-term U.S. Treasurys, plus President Donald Trump's $200 billion mortgage-bond purchase, helped push yields lower.
- Refinancing applications surged, with refis making up 60% of home-loan requests last week and 15-year fixed mortgage rates falling to 5.38%.
- Market indicators show more buyers and refinancers are acting, easing the lock-in effect as purchase applications and refinance activity jump and sales rise 5.1%, the National Association of Realtors reported on Wednesday.
- Despite lower rates, affordability remains worse than historic norms in many markets, with the median existing home sales price at $405,400 and Goldman Sachs saying 4 million more homes are needed.
55 Articles
55 Articles
Average mortgage rate hits lowest point in more than 3 years
The average long-term U.S. mortgage rate is now down to its lowest level in more than three years. The benchmark 30-year fixed rate mortgage rate eased to 6.06% this week, down from 6.16% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 7.04%. The last time the average rate was lower was Sept. 15, 2022, when it was at 6.02%. Meanwhile, borrowing costs on 15-year fixed-rate mortgages, popular with homeowners re…
Mortgage rates in the US fell to the lowest level in three years, driving purchases and refinancing despite high housing prices
NewsBusters
Conservative AngleMortgage Rates Fall, Purchase Applications and Refinances Jump
Mortgage rates have fallen to their lowest level in more than three years, Freddie Mac announced Thursday, releasing results of its latest weekly Primary Mortgage Market Survey (PMMS®). In its announcement, Freddie Mac reports: The 30-year fixed-rate mortgage (FRM) averaged 6.06%, down from 6.16% last week and 7.04% a year ago. At 6.16%, the 30-year FRM is the lowest in more than three years. The 15-year FRM averaged 5.38%, down from 5.46% the…
Coverage Details
Bias Distribution
- 73% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
