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The average US 30-year mortgage rate falls to 7.18% this week, its third straight decline
The decline offers some relief to homebuyers as borrowing costs track easing Treasury yields and 15-year refinance rates also edge lower.
- Freddie Mac reported that the average 30-year fixed-rate mortgage declined to 7.18% from 7.24% last week, marking the third consecutive week of rate decreases.
- The 10-year Treasury yield, which lenders use to price home loans, fell to 4.84% at midday, easing for the past month after climbing to its highest level since 2002.
- Borrowing costs on 15-year fixed-rate mortgages also decreased, dipping to 6.57% from 6.60% last week; the average 30-year rate remains higher than the 6.22% one year ago.
- Lower rates relieve pressure on prospective homebuyers, though elevated costs remain significant; a 30-year mortgage at current rates adds roughly $300 to $350 monthly for a $400,000 loan.
- Rates are influenced by inflation, Federal Reserve policy, and bond-market expectations; before the war with Iran, rates were at 3.97%, demonstrating how geopolitical factors drive home loan pricing.
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iosconews.com+9 Reposted by 9 other sources
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The average US 30-year mortgage rate falls to 7.18% this week, its third straight decline.
The average long-term U.S. mortgage rate fell for the third straight week, offering some relief to prospective homebuyers facing higher home prices. The average 30-year fixed-rate mortgage in the U.S. declined to 7.18% from 7.24% last week, mortgage buyer Freddie…
Associated Press News+12 Reposted by 12 other sources
The average US 30-year mortgage rate falls to 7.18% this week, its third straight decline
The average long-term U.S. mortgage rate fell for the third straight week, offering some relief to prospective homebuyers facing higher home prices.
·New York, United States
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Total News Sources28
Leaning Left4Leaning Right6Center17Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
15%
C 63%
R 22%
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