The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September
Thursday, 30 November 2023 The average long-term US mortgage rate fell for the fifth week in a row, benefiting prospective homebuyers in an unaffordable housing market. According to Freddie Mac, the average rate on a 30-year mortgage decreased to 7.22%, the lowest in 10 weeks. The decline in rates is encouraging for potential buyers, with purchase application activity rising. However, rates remain significantly higher than two years ago, limiting affordability for many Americans.
Mortgage Rates Creep Lower, While Home Prices Remain High.
NBC reports that mortgage rates have
finally started to come back down following
a dramatic rise in the housing market.
On November 16,..
Credit: Wibbitz Top Stories Duration: 01:30Published
Thursday, 30 November 2023
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