The average rate in a 30 -year mortgage in the US
The average rate in a 30 -year mortgage in the US.
The rate fell to 6.62% of 6.64% last week, the mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.88%.
The average rate has tended mainly lower since it reached just over 7% in mid -January. When mortgage rates decrease, they increase the purchasing power of housing buyers.
Loan costs in 15 -year fixed rate mortgages, popular among housing owners that refine their home loans, did not change since last week. The average rate remained at 5.82%, but has dropped 6.16% a year ago, said Freddie Mac.
Mortgage rates are influenced by several factors, including the global demand for US treasurers, the decisions of the interest rates of the Federal Reserve and the expectations of bond market investors for future inflation.
