General World News

Mortgage rates continue their slide toward the 7% mark

Mortgage rates continued to inch toward the 7% mark following last week’s meeting of Federal Reserve policymakers and new inflation data that showed further cooling of consumer prices.

On Tuesday, HousingWire‘s Mortgage Rates Center showed that the average 30-year rate for conforming loans was 7.08%. That was down 11 basis points from the same time last week and exactly 50 basis points below this year’s peak rate that was recorded in early May.

HousingWire Lead Analyst Logan Mohtashami recently noted that some specific economic signals are working in the favor of lower mortgage rates. These include a decline details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com