Average Rate on 30-Year Mortgage Drops Slightly

The average rate on a 30-year mortgage in the US slips to 6.78%
The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb. The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago,
Average Rate on 30-Year Mortgage Drops Slightly After 6 Weeks of Increases
Mortgage rates on a 30-year home loan have fluctuated throughout the year, reaching a peak of 7.22 percent in May. In late September, the average rate dipped to 6.08 percent, the lowest level in two years, after the Federal Reserve cut interest rates. But mortgage rates have since crept higher until this week.
Average rate on a 30-year mortgage slips for first time in weeks
Despite its recent upward move, the average rate on a 30-year mortgage is still down from 7.22 percent in May, its peak so far this year. In late September, the average rate got as low as 6.08 percent — its lowest level in two years.
After the election, mortgage rates level off
After climbing for the last six weeks, mortgage rates have leveled off. They didn’t go down this week but they didn’t go up either, and economists say that
Mortgage rates fall slightly, ending 6-week climb
Mortgage rates leveled off this week after climbing for six consecutives weeks, stalling along with demand in the stagnant housing market amid an affordability crisis.
Current Mortgage Rates: November 14, 2024
Mortgage rates saw very little movement over the past week, breaking a six-streak of steady increases. Freddie Mac’s average rate for a 30-year fixed-rate mortgage ticked down to 6.78% for the week ending November 14.
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Understanding The Future Direction Of Mortgage Rates
To better understand the future direction of mortgage rates, we need to understand what factors influence them.