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Wiggle Room? Mortgage Rates Fall Again

  • May 16th 2024

by UrbanTurf Staff

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Mortgage rates chart_05-16-24.png

Long-term mortgage rates dropped for the second week in a row on Thursday. 

Freddie Mac reported 7.02% as the average on a 30-year mortgage, down 7 basis points from last week. 

"Given the news that inflation eased slightly, the 10-year Treasury yield dipped, leading to lower mortgage rates," Sam Khater, Freddie Mac’s Chief Economist, said.  "The decrease in rates, albeit small, may provide a bit more wiggle room in the budgets of prospective homebuyers."

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rate

This article originally published at https://dc.urbanturf.com/articles/blog/wiggle_room_mortgage_rates_fall_again/22320.

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