27 days ago
KESQ
The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Inflation concerns remainThe mortgage rate for a 30-year, fixed-rate loan continued to climb as the 10-year Treasury yield has surged. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “Mortgage rates are likely to move in the 6% to 7% range over the next few weeks, which continues to pose a significant challenge to affordability,” she said. “This decline may be due to a combination of multiple factors such as high housing prices, high mortgage rates, and the recent wave of tech layoffs on the West Coast,” said Xu.
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