Full article
Full article text extracted for easier reading in-app.
US Mortgage Rates Decrease for 3rd Week
The average rate on a 30-year fixed mortgage in the US fell to 7.3% in the week ending October 30, marking a third consecutive weekly decline and providing further relief to prospective homebuyers and homeowners considering refinancing, according to the Mortgage Bankers Association.The decline in b…
TradingView
The average rate on a 30-year fixed mortgage in the US fell to 7.3% in the week ending October 30, marking a third consecutive weekly decline and providing further relief to prospective homebuyers and homeowners considering refinancing, according to the Mortgage Bankers Association. The decline in borrowing costs tracked a fall in Treasury yields. However, the easing in interest rates did not lift overall mortgage application volume that fell by 1.2% from the previous week. Applications to purchase a home declined 2% while those to refinance existing loans edged up 0.1%.