Having endured weeks of rising borrowing costs, home buyers in the U.S. have gotten a “second chance” to lock in a lower interest rate. Last week, the popular 30-year fixed-rate mortgage fell below 5% for the first time in months, according to a report by Freddie Mac. Rates had been hovering above 5% for a […]
Mortgage rates suddenly drop, and homes are now 5% more affordable
July 10, 2022 by
After weeks of steady gains, mortgage rates have fallen rapidly in the past week, meaning homes are suddenly much more affordable. The 30-year fixed-rate mortgage averaged 5.3% in the week ending July 7, according to the latest data provided by Freddie Mac. That represents a decline of 40 basis points in the past week. One […]
