Average rate on a 30-year mortgage fell to 6.63%
Freddie Mac says the average rate on a 30-year mortgage fell to 6.63% this week, its lowest level since mid-December.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also eased this week. The average rate fell to 5.79% from 5.94% last week. A year ago, it averaged 6.22%, Freddie Mac said.
Mortgage rates are influenced by several factors, including bond market investors’ expectations for future inflation, global demand for U.S. Treasurys and the Federal Reserve’s interest rate policy decisions.
The recent decline in mortgage rates echoes moves in the 10-year Treasury yield, which lenders use as a guide for pricing home loans.
More Stories
Who really baked this cake? Man City, Abu Dhabi and the 115 charges
Every August, in a marquee in the Northamptonshire village I used to live in, three retired headmistresses judge the village...
Long-term UK borrowing costs top 6 per cent, highest since 1998
Long-term UK government borrowing costs briefly rose above 6 per cent today, reaching their highest level since 1998 amid a...
How Growing Startups Keep Product Quality High Without Slowing Releases
Product quality is a major concern for startups from Series A to Series C, and it typically begins to fall...
The 90-Day AI Product Build: How Series A Teams Can Ship Without Overhiring Or Losing Code Ownership
Hiring a full product squad can solve capacity gaps, but it also creates recruiting delays, management overhead, and long-term payroll...
How To Create A Warm, Practical Kitchen That Lasts
The strongest designs balance these needs with materials and details that add warmth and character. A lasting kitchen is usually...
Build vs Lease: Why Small Businesses Are Rethinking Commercial Premises
That default is now being questioned. Rents in many industrial and light commercial precincts have climbed faster than wages, lease...