This week’s Insider Deals are so good you’ll want all of themFile - Carpenters work on a home on Sept. 19, 2023, in Marshall, N.C. On Thursday, May 30, 2024, Freddie Mac reports on this week's average U.S. mortgage rates. –
Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy and the moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans. After climbing to a 23-year high of 7.79% in October, the average rate on a 30-year mortgage stayed below 7% this year until April. Even with the declines earlier this month, the rate remains well above where it was just two years ago at 5.09%.
The National Association of Realtor’s pending home sales index fell 7.7% in April from the previous month, the trade group said Thursday. April's drop in pending home sales is the first since January.
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