General World News

Mortgage rates trend down as the labor market loosens

Mortgage rates kept sliding toward 7% as HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conforming loans at 7.25% on Tuesday, below the rate of 7.34% one week ago

At the same time one year ago, the average 30-year conforming rate was 6.8%. Meanwhile, the 15-year conforming fixed rate averaged 6.77% on Tuesday, up from 6.71% one week earlier.

“We have an excellent tug-of-war on rates now because people have wised up to the fact that the labor market isn’t tight anymore, and the Fed doesn’t seem details ⇒

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