US EditionAverage US Long-Term Mortgage Rate Ticks up to 6.22% After Four Straight Weekly Declines
Mortgage rates fell to 6.17%, their lowest in over a year, while China agreed to buy 25 million metric tons of U.S. soybeans annually, easing trade tensions.
- On Thursday, Freddie Mac reported the average long-term mortgage rate fell to 6.17%, its lowest since Oct. 3, 2024, while Treasury Secretary Scott Bessent said China agreed to buy 25 million metric tons of U.S. soybeans annually.
- Bond-Market moves contributed to lower mortgage costs as the Federal Reserve lowered its key interest rate last week and the 10-year Treasury yield eased to 4.09% at midday Thursday.
- Borrowers gained relief as borrowing costs on 15-year fixed-rate mortgages fell to 5.41% from 5.44%, encouraging homeowners who bought in recent years to refinance, with Realtor.com data showing 80% below 6%.
- The deal means Agriculture Secretary Brooke Rollins said the three-year term of the agreement removes retaliatory tariffs and should open markets for crops, beef, and U.S. sorghum.
- Market risks include Fed Chair Jerome Powell's warning of uncertain future cuts and bond investors pushing yields higher if inflation stays elevated, while mortgage rates must drop below 6% for refinancing despite September sales acceleration.
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Associated Press News
Average US long-term mortgage rate ticks up to 6.22% after four straight weekly declines
The average rate on a 30-year U.S. mortgage ticked up for the first time in five weeks after falling to its lowest level in more than a year last week.
Ticker: Mortgage rates dip again; China to buy millions in soybeans
The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year. Lower mortgage rates boost homebuyers’ purchasing power. They also benefit homeowners eager to refinance their current home loan to a more attractive rate. The average long-term mortgage rate dropped to 6.17% from 6.19% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.72%. The last time the av…
Average US long-term mortgage rate ticks up to 6.22% after four straight weekly declines - Regional Media News
The average rate on a 30-year U.S. mortgage ticked up for the first time in five weeks after falling to its lowest level in more than a year last week. The average long-term mortgage rate moved up to 6.22% from 6.17% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.79%. Last week's average rate the lowest since Oct. 3, 2024, when it was 6.12%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeo…
U.S. Mortgage Rates Hit One-Year Low as Fed Cuts Rates: CWEB Business News
A significant retreat in U.S. mortgage rates has provided a glimmer of opportunity for prospective homebuyers, with the average 30-year fixed loan falling to 6.17% this week, its lowest point in over a year. This decline arrives just one day after the Federal Reserve enacted its second interest rate cut of the year, a […]
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