The average rate in a 30 -year mortgage in the US Traditionally the busiest of the year For the real estate market.
The rate fell to 6.76% of 6.81% last week, the mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.22%.
Loan costs in 15 -year fixed rate mortgages, popular among housing owners that refine their home loans, also fell. The average rate decreased to 5.92% of 5.94% last week. It is below 6.47% a year ago, said Freddie Mac.
Mortgage rates are influenced by several factors, including the global demand for US treasurers, the decisions of the interest rates of the Federal Reserve and the expectations of bond market investors for future inflation.
When mortgage rates decrease, they help increase the purchasing power of housing buyers.
After rising to a little more than 7% in mid -January, the average rate of a 30 -year mortgage has remained above 6.62%, where it was only three weeks ago. Then the next two weeks was shot above 6.8%, which reflects the volatility in 10 -year treasure performance, which lenders use as a guide to set the price of home loans.
The yield, which had mostly fallen after rising to around 4.8% in mid -January, increased last month to 4.5% in a massive sale in government bonds caused by anxiety for investors by the Trump administration. Commercial War.
The 10 -year treasure yield was 4.23% at noon on Thursday, compared to 4.17% on Wednesday night.
