Federal Home Loan Mortgage Corporation (FMCCT)
- Reuters
US 30-year fixed-rate mortgage falls to 7.09%, still too high to boost housing
U.S. mortgage rates fell this week for the first time in more than a month amid signs of slowing economic activity, but remain too high to provide a significant boost to the housing market. The average rate on the popular 30-year fixed-rate mortgage was down to 7.09% as of May 9, from 7.22% last week, ending five straight weekly increases, mortgage finance agency Freddie Mac said in a statement on Thursday. The decline in mortgage rates coincides with a drop in the 10-year Treasury yield following recent data showing a moderation economic and job growth.
- Associated Press Finance
Average long-term US mortgage rate snaps five-week string of increases, but remains above 7%
The average rate on a 30-year mortgage fell for the first time in four weeks, a slight relief for home shoppers already facing the challenges of rising housing prices and a shortage of homes for sale. The rate fell to 7.09% from 7.22% last week, mortgage buyer Freddie Mac said Thursday. When mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much homebuyers can afford.
- Bloomberg
Mortgage Rates in the US Decline for the First Time in Six Weeks
(Bloomberg) -- Mortgage rates in the US fell, switching direction after five weeks of increases.Most Read from BloombergMicrosoft’s Xbox Is Planning More Cuts After Studio Closings‘Seriously Underwater’ Home Mortgages Tick Up Across the USAmericans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t TrackMarjorie Taylor Greene Finally Got What She Deserved: DefeatThe average for a 30-year, fixed loan was 7.09%, down from 7.22% last week, Freddie Mac said in a statement Thursday.Homebuyers are g
