Reported 11 months ago
The average rate on a 30-year mortgage decreased slightly to 6.99%, with 15-year fixed-rate mortgages also lowering to 6.29%. Influenced by various factors such as the bond market and the Federal Reserve's interest rate policy, the easing yields this week led to the decline. However, economists predict that until inflation slows sustainably, mortgage rates are unlikely to decrease significantly, with the 30-year rate remaining near a two-decade high and impacting homebuyers' purchasing options.
Source: YAHOO