Estimated reading time: 0 minutes, 25 seconds

Mortgage Rates Drift Lower for Second Straight Week

Sunday, May 14 2023
Lending
Written by  The Mortgage Leader

Mortgage rates have edged down for two consecutive weeks amid signs of cooling inflation. So reports CNN.

arrow down icon 157360 1280According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 6.35% in the week ending May 11, compared with 6.39% the previous week and 5.30% a year ago.

“This week’s decrease continues a recent sideways trend in mortgage rates, which is a welcome departure from the record increases of last year," Freddie Mac’s chief economist, Sam Khater, said in a statement.

Read the full article from CNN. 

Read 895 times
Rate this item
(0 votes)
More in this category: « Bodnar of MMG: Why Rates Have Been Unable to Improve April Rate Lock Volumes Fall Despite Cooling Rates »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline