Reported 2 days ago
The average long-term mortgage rate in the US has fallen to 6.81%, experiencing its third consecutive weekly decline, according to Freddie Mac. This drop is viewed positively for prospective homebuyers as high borrowing costs continue to impact the housing market. Alongside this decline, the average rate for 15-year fixed-rate mortgages has also decreased to 5.96%. Despite recent improvements, the housing market remains sluggish, reflecting ongoing challenges stemming from past elevated mortgage rates and a low sales environment.
Source: YAHOO