Refinance Rates Decline for a Third Day
Rates on 30-year refinance loans dropped another 2 basis points Wednesday, nudging to average down to 7.03%. That's now the cheapest level for 30-year refi rates since Dec. 18. In September, 30-year refinance rates plunged to a two-year low of 6.01%. But they then surged as high as 7.30%—before recently moving lower.
Mortgage demand drops further, even as interest rates settle
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) remained unchanged at 7.02%, with points increasing to 0.63 from 0.62 (including the origination fee) for loans with a 20% down payment.
With over three years of experience writing in the housing market space, Robin Rothstein demystifies mortgage and loan concepts, helping first-time homebuyers and homeowners make informed ...
The mortgage rate drop provides little relief for prospective shoppers looking ahead to the spring homebuying season.
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The average rate on a 30-year mortgage in the U.S. eased for the second week in a row, but remains just below 7%, little ...
It's important to understand that the Fed's decision to pause rate cuts will not directly impact mortgage rates. Mortgage ...
Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.95% this week, ...
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