Average US long-term mortgage rate eases to 6.37% after rising five weeks in a row
ABC News • • business
Key Points:
- The average long-term U.S. mortgage rate decreased slightly this week to 6.37% from 6.46% last week, providing some relief to homebuyers after rates climbed to a seven-month high.
- One year ago, the 30-year fixed mortgage rate averaged 6.62%, indicating current rates remain near historic highs despite the recent dip.
- Mortgage rates had briefly fallen below 6% six weeks ago, but rising oil prices and inflation concerns triggered by the war with Iran caused rates to climb again.
- The yield on 10-year U.S. Treasury bonds, which influences mortgage rates, fell slightly to 4.28% from 4.3% last week but remains higher than the 3.97% yield before the conflict began.
