Mortgage rates drop below 7% for first time since March

  • 📰 nypost
  • ⏱ Reading Time:
  • 20 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 67%

Business News

Housing,Inflation

The rate for a 30-year fixed mortgage fell from 7.02% to 6.94% for the week that ended June 14, according to Mortgage Bankers Association data.

for the first time since March — leading to an uptick in the number of applications for loans from would-be home buyers.fell from 7.02% to 6.94% for the week that ended June 14, according to Mortgage Bankers Association data released on Wednesday.

“Purchase applications increased a small amount for the week, led by applications for conventional loans,” Mike Fratantoni, MBA chief economist, said in a statement.NY Giants 'helmet catch' hero blows nearly $500K after failed juice store venture Inflation has remained stubbornly high, forcing the Fed to keep the benchmark rate between 5.25% and 5.50% — the highest in 23 years.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in PROPERTY

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mortgage demand flattens even as interest rates hit the lowest level since MarchThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.94% from 7.02% Mortgage…
Source: NBCLA - 🏆 319. / 59 Read more »

Mortgage demand flattens even as interest rates hit the lowest level since MarchThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.94% from 7.02% Mortgage…
Source: NBCDFW - 🏆 288. / 63 Read more »

Long-term mortgage rates ease for third straight week, dipping to just below 7%The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties.
Source: wjxt4 - 🏆 246. / 63 Read more »

Long-term mortgage rates ease for third straight week, dipping to just below 7%The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties. The rate fell to 6.94% from 7.02% last week, mortgage buyer Freddie Mac said Thursday.
Source: AP - 🏆 728. / 51 Read more »

Long-term mortgage rates ease for third straight week, dipping to just below 7%The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties.
Source: ksatnews - 🏆 442. / 53 Read more »

Long-term mortgage rates ease for third straight week, dipping to just below 7%The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties
Source: ABC - 🏆 471. / 51 Read more »