Reported 1 day ago
The average long-term mortgage rate in the US has decreased slightly to 6.84% for the second consecutive week, though borrowing costs remain high. Compared to last year's average of 6.95%, this week's decline is modest, driven by factors such as the Federal Reserve's interest policies and treasury yields. While rising rates have dampened the housing market, mortgage applications recently saw an uptick due to increased inventory, suggesting potential changes in buyer activity.
Source: YAHOO