By MATT OTT, AP Business Writer
WASHINGTON (AP) — The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated.
The long-term rate dipped to 6.85% from 6.89% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.99%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also came down. The average rate fell to 5.99% from 6.03% last week and 6.29% a year ago, Freddie Mac said.
Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. The key barometer is the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
Bond yields have retreated the past week but broadly have been trending higher since hitting 2025 lows in early April, reflecting investors’ uncertainty over the Trump administration’s ever-changing tariffs policy and worry over exploding federal government debt.
The 10-year Treasury yield was 4.39% in midday trading Thursday, down from 4.54% a week ago.
Related Posts:
- Average rate on a 30-year mortgage in the US falls to 6.85% this week, first decline in a month News By MATT OTT, AP Business Writer WASHINGTON (AP) — The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated. Related Articles Could data center boom threaten Colorado’s water supply and climate goals? Roman…
- Large tree falls in San Mateo, injuring person News SAN MATEO – One person was injured when a large tree toppled to the ground Wednesday in San Mateo, police said. Related Articles Cement truck crashes into two Daly City homes DNA tests confirm human remains found on California beach were of 10-year-old girl on capsized panga 2 killed in…
- Large tree falls in San Mateo, injuring person News SAN MATEO – One person was injured when a large tree toppled to the ground Wednesday in San Mateo, police said. Related Articles Cement truck crashes into two Daly City homes DNA tests confirm human remains found on California beach were of 10-year-old girl on capsized panga 2 killed in…
- National pickleball venue Chicken N Pickle to open first Colorado location this month News Chicken N Pickle, a national chain pickleball entertainment venues, is opening its first Colorado location in Thornton this month. Covering more than 3 acres and over 45,000 square feet, the venue will offer eight pickleball courts, including six indoor and two covered outdoor courts. “We’re thrilled to bring Chicken N…
- Hyde Park Art Center celebrates Pride Month with art show: 'This is a chance for us to express our love' News The Hyde Park Art Center on Sunday welcomed the start of Pride Month with its fourth annual Art of Pride event showcasing local LGBTQ+ artists and celebrating the queer community. "This is a chance for us to express our love and our joy and be proud of it and not…
(Visited 1 times, 1 visits today)