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Average 30-year US mortgage rate falls to 6.43%, its lowest level in seven weeks
ABC News - Breaking News, Latest News and Videos • • business
Key Points:
- The average long-term U.S. mortgage rate dropped to 6.43% this week, its lowest level since mid-May, reducing borrowing costs for homebuyers.
- The 30-year fixed mortgage rate declined from 6.49% last week and is lower than the 6.67% average rate recorded a year ago.
- The 15-year fixed mortgage rate also decreased slightly to 5.79% from 5.84% last week, comparable to the 5.8% rate a year prior.
- Mortgage rates are influenced by Federal Reserve policies, economic and inflation expectations, and typically follow the 10-year Treasury yield used by lenders to price home loans.
