Washington, Dec 14 (EFECOM).- Mortgage rates in the United States fell below 7% for the first time since August 10, as reported this Thursday by Freddie Mac, the federal mortgage loan corporation.
“With inflation continuing to slow and the Federal Reserve Board forecasting it will lower the federal funds rate next year, we are likely to see a gradual thaw in the housing market in the new year,” he said. Freddie Mac chief economist Sam Khater.
In a statement, Freddie Mac put the average US 30-year fixed-rate mortgage at 6.95%, down from last week, when it was 7.03%.
Separately, a survey released Wednesday by the Mortgage Bankers Association showed rates at 7.07%, the lowest level in five months.
According to the Las Vegas Review-Journal, the record increase in mortgage rates last August may respond to a rebound in profitability, an index that lenders use to set the price of mortgages and other loans.
This drop to less than 7% comes after mortgage applications fell to their lowest point since 1995 last October, as reported by the Association of Mortgage Banks. EFECOM
egp/er/cpy
2023-12-15 00:20:51
#mortgage #rates #fall #time #August
