Reported about 9 hours ago
The average long-term U.S. mortgage rate has dropped to 6.19%, marking the lowest level in more than a year and aiding sluggish home sales. This is the third consecutive week of declines, influenced by the Federal Reserve's interest rate policies and an easing economic outlook. While sales of previously occupied homes hit a near 30-year low last year, recent reductions in mortgage rates have sparked some recovery in sales. However, potential inflationary pressures and budget deficits could limit how much further rates can decline.
Source: YAHOO