Reported 1 day ago
Mortgage rates have decreased slightly for the first time in a month, with the average 30-year rate at 6.85%, down from 6.89%, while the 15-year rate is now at 5.99%. Despite this dip, rates remain high and have contributed to a decline in mortgage application activity, which fell by 4% compared to the previous week. The recent decrease in Treasury yields, driven by weak economic data, has influenced this change and reignited discussions regarding a potential Federal Reserve rate cut.
Source: YAHOO