Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

Estimated reading time: 0 minutes, 27 seconds

Mortgage Rates Dip for Third Straight Week But Still Up From 2021

Friday, Jun 03 2022
Lending
Written by  The Mortgage Leader

Mortgage rates have posted their third consecutive weekly decline, but they’re still much higher than they were a year ago. So reports CNN.

arrow 306811 640 smallThe average on the 30-year fixed-rate mortgage was 5.09% in the week ending June 2, down one basis point from the previous week but up from 2.99% at the same time last year.

“​​Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand," Sam Khater, Freddie Mac's chief economist, said in a statement.

Read the full article from CNN.

Read 1731 times
Rate this item
(0 votes)
More in this category: « Movement Mortgage Settles Fair Housing Allegations Black Knight Joins Forces with AI Data Firm Percy »

FOLLOW US