U.S. 30-year mortgage rates fall to 6.69%, lowest since October, but high prices keep home sales down.

The average rate for a 30-year mortgage in the U.S. has dropped to 6.69%, its lowest point since late October, according to Freddie Mac. This decrease follows a steady rise since September. Mortgage rates are influenced by Treasury bond yields and expectations of future Federal Reserve rate cuts. Despite the lower rates, high home prices and mortgage costs continue to challenge potential buyers, leading to a decline in U.S. home sales, projected to be the lowest since 1995.

3 months ago
33 Articles

Further Reading