US EditionAverage Mortgage Rate Rises, Ending a 5-Week Slide
UNITED STATES, JUL 9 – The 30-year fixed mortgage rate rose slightly to 5.86% this week after five weeks of decline, while mortgage applications increased 2.7%, signaling cautious optimism for homebuyers.
- The average 30-year mortgage rate in the U.S. increased to 6.72% this week, reversing a downward trend in interest rates that had lasted for five consecutive weeks.
- This rise followed a stronger-than-expected June jobs report and coincided with global investors charging higher interest on U.S. debt.
- High mortgage rates and rising home prices have kept the housing market sluggish, discouraging many buyers while some builders cut prices due to cost pressures.
- Jennifer Livingston noted many homeowners are locked into lower rates, limiting inventory, while 37% of builders reduced prices in June, the highest since 2022.
- Carolyn Morganbesser advised prospective buyers to consider adjustable-rate mortgages, which saw increased applications, as they offer lower initial rates amid high fixed costs.
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Mortgage Rates Inch Up To 6.72% After 5 Weeks Of Decline, But Experts See Stability Ahead - Federal Home Loan (OTC:FMCC)
The average long-term U.S. mortgage rate has risen, marking the end of a five-week downward trend. Despite this increase, experts predict that mortgage rates will remain relatively stable in the coming months. What Happened: The average rate for a 30-year U.S. mortgage increased to 6.72% from 6.67% last week, as reported by ABC News via mortgage buyer Freddie Mac (OTC:FMCC). This increase follows five consecutive weeks of falling borrowing costs…
With mortgage rates remaining at 6.7%, Minnesota homeowners increasingly staying rooted
Jennifer Livingston, the president of the St. Paul Area Association of Realtors, says many of her clients are hunkering down, staying in their homes, hoping those mortgage rates will fall.
The average rate of a 30-year mortgage in the United States rose slightly this week, ending a five-week decline.
InsideNoVA.com
Weekly Mortgage Rates Rise for First Time Since May
Mortgage rates turned upward this week after falling the previous five weeks in a row.The 30-year fixed-rate mortgage averaged 6.78% APR, up four basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis…
Average long-term US mortgage rate rises to 6.72%, ending a five-week slide - WSVN 7News | Miami News, Weather, Sports
The average rate on a 30-year U.S. mortgage edged up this week, ending a five-week decline in borrowing costs for homebuyers. The long-term rate ticked up to 6.72% from 6.67% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.89%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose. The average rate increased to 5.86% from 5.80% last week. A year ago, …
Average long-term U.S. mortgage rate rises to 6.72%, ending a five-week slide
The average rate on a 30-year U.S. mortgage edged up this week, ending a five-week decline in borrowing costs for homebuyers. The long-term rate ticked up to 6.72% from 6.67% last week, mortgage buyer Freddie Mac said Thursday.
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