Reported about 7 hours ago
The average rate on a 30-year mortgage in the United States has decreased to 6.81% this week, down from 6.84% the previous week, according to Freddie Mac. This drop, however, is not substantial enough to significantly boost home sales as potential buyers remain hesitant due to high borrowing costs and rising home prices. The 15-year fixed-rate mortgage saw an increase in average rates to 6.1%. Despite some improvement in sales of previously occupied homes, the overall housing market is experiencing a decline, leading to predictions of continued volatility in mortgage rates through 2025.
Source: YAHOO